Vanguard Group Inc. Has $294.52 Million Stake in Unifirst Corporation $UNF

Key Points

• Vanguard Group Inc. reduced its stake in UniFirst Corporation to approximately $294.52 million, owning 9.12% of the company after selling 15,574 shares in the first quarter.
• UniFirst reported earnings of $2.13 per share, surpassing analyst estimates, with quarterly revenue of $610.78 million, a 1.2% increase year-over-year.
• The company declared a quarterly dividend of $0.35 per share, reflecting an annualized yield of 0.8% and a payout ratio of 17.20%.

Vanguard Group Inc. decreased its holdings in Unifirst Corporation (NYSE:UNF - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,692,668 shares of the textile maker's stock after selling 15,574 shares during the quarter. Vanguard Group Inc. owned 9.12% of Unifirst worth $294,524,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Cetera Investment Advisers increased its position in shares of Unifirst by 3.1% during the 4th quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker's stock worth $382,000 after purchasing an additional 68 shares in the last quarter. GAMMA Investing LLC increased its position in Unifirst by 59.9% in the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock valued at $39,000 after acquiring an additional 85 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Unifirst by 1.1% in the 1st quarter. DAVENPORT & Co LLC now owns 7,613 shares of the textile maker's stock valued at $1,325,000 after purchasing an additional 86 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Unifirst by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,575 shares of the textile maker's stock worth $269,000 after acquiring an additional 100 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Unifirst by 88.7% during the 1st quarter. Fifth Third Bancorp now owns 266 shares of the textile maker's stock worth $46,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

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

Unifirst Stock Up 0.4%

Shares of UNF stock traded up $0.7450 on Thursday, reaching $174.6350. The company had a trading volume of 20,693 shares, compared to its average volume of 130,554. The stock has a market capitalization of $3.24 billion, a PE ratio of 21.45 and a beta of 0.85. Unifirst Corporation has a one year low of $156.34 and a one year high of $243.70. The business's 50-day moving average is $177.13 and its 200 day moving average is $186.40.

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

Unifirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be paid a $0.35 dividend. 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 is currently 17.20%.

About Unifirst

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.