Vest Financial LLC Takes Position in UniFirst Co. (NYSE:UNF)

Vest Financial LLC purchased a new position in shares of UniFirst Co. (NYSE:UNF - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,866 shares of the textile maker's stock, valued at approximately $673,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of UniFirst by 1,105.3% during the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after buying an additional 210 shares during the last quarter. Smartleaf Asset Management LLC grew its position in UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock valued at $59,000 after acquiring an additional 247 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of UniFirst by 187.2% during the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock worth $61,000 after purchasing an additional 234 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of UniFirst by 811.5% during the fourth quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock worth $81,000 after purchasing an additional 422 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of UniFirst during the fourth quarter worth $104,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on UNF shares. Barclays reiterated an "underweight" rating and issued a $152.00 price target (down previously from $180.00) on shares of UniFirst in a report on Friday, April 4th. Robert W. Baird dropped their price target on UniFirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, UBS Group raised their price target on UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $180.00.

UniFirst Stock Down 0.2%

NYSE:UNF opened at $188.48 on Monday. UniFirst Co. has a twelve month low of $149.58 and a twelve month high of $243.70. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 24.10 and a beta of 0.87. The stock's 50 day moving average price is $179.43 and its two-hundred day moving average price is $194.48.

UniFirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company had revenue of $602.20 million for the quarter, compared to the consensus estimate of $602.81 million. During the same quarter in the prior year, the company earned $1.09 EPS. The company's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts anticipate that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.74%. UniFirst's dividend payout ratio is currently 17.41%.

UniFirst announced that its board has authorized a stock buyback program on Tuesday, April 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the textile maker to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

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.

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