Unifirst Corporation (NYSE:UNF) Shares Acquired by Virtu Financial LLC

Key Points

• Virtu Financial LLC increased its stake in Unifirst Corporation by 104.0% in the first quarter, acquiring a total of 5,297 shares valued at $922,000.
• Analysts have mixed ratings on Unifirst, with a consensus average rating of "Hold" and a target price of $179.50, reflecting varying expectations in market performance.
• Unifirst announced a quarterly dividend of $0.35 per share to be paid on September 26th, representing a 0.8% dividend yield and a payout ratio of 17.20%.

Virtu Financial LLC lifted its holdings in Unifirst Corporation (NYSE:UNF - Free Report) by 104.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,297 shares of the textile maker's stock after purchasing an additional 2,701 shares during the period. Virtu Financial LLC's holdings in Unifirst were worth $922,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of UNF. LPL Financial LLC lifted its position in shares of Unifirst by 60.3% in the 4th quarter. LPL Financial LLC now owns 10,923 shares of the textile maker's stock worth $1,869,000 after purchasing an additional 4,111 shares during the period. Alliancebernstein L.P. grew its position in shares of Unifirst by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 18,703 shares of the textile maker's stock worth $3,200,000 after buying an additional 511 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Unifirst in the 4th quarter worth approximately $207,000. Wells Fargo & Company MN grew its position in shares of Unifirst by 1.4% in the 4th quarter. Wells Fargo & Company MN now owns 114,121 shares of the textile maker's stock worth $19,525,000 after buying an additional 1,541 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Unifirst by 7.9% in the 4th quarter. Bank of Montreal Can now owns 1,780 shares of the textile maker's stock worth $305,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UNF. Robert W. Baird set a $197.00 price objective on shares of Unifirst in a research report on Monday, June 30th. JPMorgan Chase & Co. began coverage on shares of Unifirst in a research report on Monday, July 14th. They issued an "underweight" rating and a $175.00 price objective on the stock. UBS Group cut their price objective on shares of Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a research report on Monday, June 30th. Finally, Barclays set a $152.00 price objective on shares of Unifirst and gave the stock an "underweight" rating in a research report on Monday, June 30th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $179.50.

Unifirst Stock Performance

UNF stock traded down $1.38 during trading on Friday, reaching $173.34. The company had a trading volume of 64,978 shares, compared to its average volume of 101,631. The firm has a 50-day simple moving average of $178.00 and a 200-day simple moving average of $187.25. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 21.29 and a beta of 0.85. Unifirst Corporation has a twelve month low of $156.34 and a twelve month high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last released 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 company 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%. Unifirst's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. Sell-side analysts expect that Unifirst Corporation will post 7.71 earnings per share for the current year.

Unifirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Unifirst's dividend payout ratio (DPR) is 17.20%.

Unifirst Company Profile

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.