Voya Investment Management LLC Boosts Holdings in Unifirst Corporation $UNF

Key Points

• Voya Investment Management LLC increased its stake in Unifirst Corporation by 34.0% during the 1st quarter, purchasing an additional 3,742 shares to bring its total to 14,757 shares.
• Unifirst reported an EPS of $2.13 for the last quarter, exceeding analysts' expectations, while quarterly revenue saw a modest increase of 1.2% year-over-year.
• The company declared a quarterly dividend of $0.35 per share, with a 0.8% annualized dividend yield and a payout ratio of 17.20%.

Voya Investment Management LLC lifted its holdings in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,757 shares of the textile maker's stock after acquiring an additional 3,742 shares during the period. Voya Investment Management LLC owned approximately 0.08% of Unifirst worth $2,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. First Hawaiian Bank increased its position in shares of Unifirst by 24.3% during the first quarter. First Hawaiian Bank now owns 2,328 shares of the textile maker's stock worth $405,000 after acquiring an additional 455 shares in the last quarter. Inspire Investing LLC increased its position in shares of Unifirst by 150.5% during the first quarter. Inspire Investing LLC now owns 5,855 shares of the textile maker's stock worth $1,019,000 after acquiring an additional 3,518 shares in the last quarter. Rhumbline Advisers increased its position in shares of Unifirst by 3.2% during the first quarter. Rhumbline Advisers now owns 51,883 shares of the textile maker's stock worth $9,028,000 after acquiring an additional 1,585 shares in the last quarter. Strs Ohio bought a new stake in shares of Unifirst during the first quarter worth about $853,000. Finally, Geneos Wealth Management Inc. grew its position in Unifirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock worth $27,000 after purchasing an additional 128 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UNF. 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 for the company. 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. UBS Group reduced their price objective on shares of Unifirst from $196.00 to $194.00 and set a "neutral" rating for the company in a research report on Monday, June 30th. Finally, Robert W. Baird set a $197.00 price objective on shares of Unifirst in a research report on Monday, June 30th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $179.50.

Unifirst Trading Down 1.7%

Shares of NYSE:UNF traded down $2.95 during trading on Tuesday, reaching $168.54. The company had a trading volume of 51,702 shares, compared to its average volume of 128,279. The company has a fifty day moving average of $174.17 and a two-hundred day moving average of $179.58. The stock has a market capitalization of $3.12 billion, a P/E ratio of 20.69 and a beta of 0.86. Unifirst Corporation has a 12 month low of $156.34 and a 12 month high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last issued its quarterly 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. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. The firm had revenue of $610.78 million for the quarter, compared to analyst estimates of $614.50 million. During the same quarter in the prior year, the firm earned $2.20 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. As a group, equities research analysts predict that Unifirst Corporation will post 7.71 earnings per share for the current year.

Unifirst Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. Unifirst's dividend payout ratio is presently 17.20%.

Unifirst 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.