UniFirst Corporation $UNF Stock Holdings Lifted by Bank of America Corp DE

Key Points

• Bank of America increased its UniFirst stake by 4.3% in the second quarter to 158,466 shares, worth approximately $41.9 million. Institutional investors and hedge funds collectively own 78.17% of the company.
• Analysts maintain a generally cautious outlook, with UniFirst receiving a consensus “Hold” rating and an average price target of $246.67; Weiss Ratings recently downgraded the stock from “Buy” to “Hold.”
• UniFirst’s latest quarterly earnings of $1.09 per share missed estimates of $1.93, although revenue rose 3.9% year over year to $634.4 million. The company declared a quarterly dividend of $0.365 per share, representing a 0.6% yield.

Bank of America Corp DE lifted its holdings in shares of UniFirst Corporation (NYSE:UNF - Free Report) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 158,466 shares of the textile maker's stock after buying an additional 6,541 shares during the period. Bank of America Corp DE owned 0.88% of UniFirst worth $41,908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System lifted its holdings in shares of UniFirst by 31.9% in the 1st quarter. California State Teachers Retirement System now owns 18,267 shares of the textile maker's stock worth $4,596,000 after purchasing an additional 4,418 shares during the last quarter. BlackRock Inc. bought a new stake in UniFirst in the second quarter valued at $580,008,000. TimesSquare Capital Management LLC acquired a new position in shares of UniFirst during the second quarter valued at $17,165,000. Gamco Investors INC. ET AL acquired a new position in shares of UniFirst during the first quarter valued at $868,000. Finally, Hsbc Holdings PLC bought a new position in shares of UniFirst during the first quarter worth about $887,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings cut shares of UniFirst from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 9th. UBS Group set a $262.00 target price on shares of UniFirst in a research note on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, UniFirst presently has a consensus rating of "Hold" and an average target price of $246.67.

UniFirst Stock Performance

UNF opened at $264.39 on Tuesday. UniFirst Corporation has a one year low of $147.66 and a one year high of $306.67. The stock's fifty day moving average is $283.92 and its 200-day moving average is $270.10. The company has a market capitalization of $4.78 billion, a PE ratio of 41.70 and a beta of 0.61.

UniFirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.93 by ($0.84). UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The business had revenue of $634.40 million during the quarter, compared to analyst estimates of $627.66 million. During the same period in the previous year, the company posted $2.13 earnings per share. UniFirst's revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

UniFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.365 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.46 annualized dividend and a dividend yield of 0.6%. UniFirst's dividend payout ratio (DPR) is currently 23.03%.

UniFirst Company Profile

UniFirst Corporation provides workplace apparel and facility service programs for businesses and organizations. Its services include the rental, cleaning, delivery and replacement of uniforms, workwear, protective clothing and other garments designed for a range of industries and occupational environments.

The company also offers related workplace products and services, including floor mats, restroom supplies, first-aid products, safety apparel and facility care programs. UniFirst manages many of these services through local service facilities, helping customers maintain workplace clothing and supplies on a scheduled basis.

Founded in 1936, UniFirst serves customers across the United States, Canada and Europe.

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