UniFirst Corporation $UNF Stock Sold by Vest Financial LLC

Key Points

• Vest Financial LLC reduced its UniFirst position by 47.8% in the third quarter, selling 9,501 shares and retaining 10,395 shares valued at approximately $2.6 million.
• UniFirst shares opened at $281.39, with a market capitalization of $5.09 billion and a 12-month trading range of $147.66 to $306.67. Institutional investors collectively own 78.17% of the company.
• UniFirst’s latest quarterly earnings fell short of estimates, with EPS of $1.90 versus the $2.04 consensus, although revenue rose 5% year over year to $645.01 million. Analysts maintain a consensus “Hold” rating with an average price target of $246.67.

Vest Financial LLC cut its holdings in shares of UniFirst Corporation (NYSE:UNF - Free Report) by 47.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,395 shares of the textile maker's stock after selling 9,501 shares during the period. Vest Financial LLC owned about 0.06% of UniFirst worth $2,604,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Nisa Investment Advisors LLC increased its stake in shares of UniFirst by 1.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,212 shares of the textile maker's stock valued at $805,000 after buying an additional 54 shares during the period. Abel Hall LLC increased its position in UniFirst by 5.5% during the 3rd quarter. Abel Hall LLC now owns 882 shares of the textile maker's stock valued at $221,000 after purchasing an additional 46 shares during the period. GAMMA Investing LLC raised its holdings in UniFirst by 94.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,177 shares of the textile maker's stock worth $545,000 after purchasing an additional 1,056 shares during the last quarter. QRG Capital Management Inc. raised its holdings in UniFirst by 13.4% during the 2nd quarter. QRG Capital Management Inc. now owns 3,851 shares of the textile maker's stock worth $1,018,000 after purchasing an additional 454 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of UniFirst by 2.9% in the 2nd quarter. State Street Corp now owns 584,085 shares of the textile maker's stock valued at $154,467,000 after purchasing an additional 16,208 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

UniFirst Stock Up 0.9%

Shares of UNF opened at $281.39 on Friday. The business's fifty day moving average is $269.52 and its 200 day moving average is $270.03. UniFirst Corporation has a 12-month low of $147.66 and a 12-month high of $306.67. The stock has a market cap of $5.09 billion, a P/E ratio of 46.82 and a beta of 0.60.

UniFirst (NYSE:UNF - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The textile maker reported $1.90 earnings per share for the quarter, missing analysts' consensus estimates of $2.04 by ($0.14). The business had revenue of $645.01 million during the quarter, compared to the consensus estimate of $634.40 million. UniFirst had a net margin of 4.34% and a return on equity of 6.65%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $2.23 earnings per share. On average, analysts expect that UniFirst Corporation will post 8.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UNF. Weiss Ratings restated a "hold (c+)" rating on shares of UniFirst in a report on Tuesday, October 6th. UBS Group set a $262.00 price target on shares of UniFirst in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, UniFirst presently has an average rating of "Hold" and an average price target of $246.67.

About UniFirst

UniFirst Corporation NYSE: UNF provides workplace uniforms, workwear rental, and textile services to businesses and organizations. Its offerings include uniform rental and laundering, work garments, protective apparel, floor mats, restroom supplies, first-aid products, and other workplace service programs.

The company also provides specialized apparel and services for industries with particular cleanliness or safety requirements, including healthcare, manufacturing, food processing, and cleanroom environments.

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