UniFirst Corporation $UNF Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp. cut its UniFirst stake by 56.5%, selling 44,588 shares and leaving 34,274 shares worth about $5.73 million, while institutional investors own roughly 78.17% of the stock.
• UniFirst missed on EPS ($1.13 vs. $1.21 expected) but beat on revenue ($622.51M), and although UBS and Barclays raised price targets, the MarketBeat consensus rating remains Reduce with a $228.25 target.
• VP David Martin Katz sold 1,464 shares at an average price of $237.54 (≈$347,758), reducing his holding by 18.47%; company insiders now own about 0.86% of shares.

Tudor Investment Corp ET AL reduced its position in UniFirst Corporation (NYSE:UNF - Free Report) by 56.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,274 shares of the textile maker's stock after selling 44,588 shares during the period. Tudor Investment Corp ET AL owned approximately 0.19% of UniFirst worth $5,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker's stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Danske Bank A S acquired a new position in shares of UniFirst in the 3rd quarter valued at about $33,000. Cornerstone Planning Group LLC acquired a new position in UniFirst during the 3rd quarter worth approximately $36,000. Finally, Brown Brothers Harriman & Co. lifted its position in UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker's stock worth $56,000 after acquiring an additional 311 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UniFirst

In other news, VP David Martin Katz sold 1,464 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $237.54, for a total value of $347,758.56. Following the completion of the sale, the vice president directly owned 6,461 shares in the company, valued at approximately $1,534,745.94. The trade was a 18.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.86% of the company's stock.

UniFirst Stock Up 1.5%

UNF stock opened at $258.64 on Thursday. UniFirst Corporation has a 52-week low of $147.66 and a 52-week high of $283.77. The stock's 50 day moving average is $243.56 and its two-hundred day moving average is $200.09. The company has a market capitalization of $4.67 billion, a PE ratio of 35.05 and a beta of 0.66.

UniFirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The textile maker reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.08). UniFirst had a return on equity of 6.49% and a net margin of 5.49%.The business had revenue of $622.51 million for the quarter, compared to analysts' expectations of $614.91 million. During the same quarter in the prior year, the firm earned $1.31 earnings per share. UniFirst's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that UniFirst Corporation will post 7.71 EPS for the current year.

UniFirst Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, March 6th. UniFirst's payout ratio is 19.78%.

Wall Street Analyst Weigh In

Several research firms recently commented on UNF. UBS Group boosted their price target on UniFirst from $206.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, April 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of UniFirst in a research report on Wednesday, January 21st. Zacks Research raised UniFirst from a "strong sell" rating to a "hold" rating in a research report on Monday, December 22nd. Barclays boosted their price target on UniFirst from $250.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 12th. Finally, Robert W. Baird set a $198.00 price target on UniFirst in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UniFirst has a consensus rating of "Reduce" and a consensus price target of $228.25.

UniFirst Profile

UniFirst Corporation NYSE: UNF is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).

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