Unifirst Corporation $UNF Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in Unifirst Corporation by 6.6%, now owning approximately 0.72% of the company valued at $23.34 million.
• Unifirst is expected to post earnings per share of $7.71 for the current year, showing modest growth amid fluctuating market conditions.
• The company declared a quarterly dividend of $0.35 per share, with a yield of 0.8%, reaffirming its commitment to returning value to shareholders.

Raymond James Financial Inc. lowered its position in Unifirst Corporation (NYSE:UNF - Free Report) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,163 shares of the textile maker's stock after selling 9,476 shares during the period. Raymond James Financial Inc. owned approximately 0.72% of Unifirst worth $23,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of UNF. Northern Trust Corp lifted its stake in Unifirst by 5.0% in the 4th quarter. Northern Trust Corp now owns 263,322 shares of the textile maker's stock valued at $45,052,000 after buying an additional 12,598 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Unifirst by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 162,751 shares of the textile maker's stock valued at $28,319,000 after buying an additional 8,253 shares in the last quarter. Natixis Advisors LLC lifted its stake in Unifirst by 4.4% in the 1st quarter. Natixis Advisors LLC now owns 149,762 shares of the textile maker's stock valued at $26,059,000 after buying an additional 6,352 shares in the last quarter. Millennium Management LLC lifted its stake in Unifirst by 148.4% in the 4th quarter. Millennium Management LLC now owns 76,742 shares of the textile maker's stock valued at $13,130,000 after buying an additional 45,850 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Unifirst by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 74,734 shares of the textile maker's stock valued at $13,004,000 after buying an additional 1,927 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Unifirst Trading Down 1.8%

Shares of UNF opened at $175.9450 on Tuesday. The firm has a market capitalization of $3.26 billion, a P/E ratio of 21.61 and a beta of 0.85. The stock's fifty day simple moving average is $176.57 and its 200 day simple moving average is $184.99. Unifirst Corporation has a twelve month low of $156.34 and a twelve month high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.04. The firm had revenue of $610.78 million during the quarter, compared to the consensus estimate of $614.50 million. Unifirst had a return on equity of 7.35% and a net margin of 6.18%.The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. Sell-side analysts predict that Unifirst Corporation will post 7.71 earnings per share for the current year.

Unifirst Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Unifirst's dividend payout ratio (DPR) is presently 17.20%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UNF shares. UBS Group reduced their price target on Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a research note on Monday, June 30th. JPMorgan Chase & Co. started coverage on Unifirst in a research note on Monday, July 14th. They set an "underweight" rating and a $175.00 price target on the stock. Robert W. Baird set a $197.00 price target on Unifirst in a research note on Monday, June 30th. Finally, Barclays set a $152.00 price target on Unifirst and gave the stock an "underweight" rating in a research note on Monday, June 30th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $179.50.

Unifirst Profile

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.

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