Susquehanna Fundamental Investments LLC Invests $1.56 Million in UniFirst Co. (NYSE:UNF)

Susquehanna Fundamental Investments LLC bought a new position in UniFirst Co. (NYSE:UNF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,124 shares of the textile maker's stock, valued at approximately $1,561,000.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in UniFirst in the fourth quarter valued at $31,133,000. Raymond James Financial Inc. acquired a new stake in UniFirst in the fourth quarter valued at $24,576,000. T. Rowe Price Investment Management Inc. acquired a new position in UniFirst in the 4th quarter valued at $6,461,000. Barclays PLC grew its stake in UniFirst by 464.6% during the third quarter. Barclays PLC now owns 41,220 shares of the textile maker's stock worth $8,188,000 after buying an additional 33,919 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its position in UniFirst by 9.9% in the fourth quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker's stock valued at $62,456,000 after buying an additional 32,860 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

UniFirst Stock Down 0.2 %

Shares of NYSE:UNF traded down $0.40 during midday trading on Tuesday, reaching $180.25. 14,187 shares of the company traded hands, compared to its average volume of 103,427. The firm's fifty day moving average price is $184.96 and its two-hundred day moving average price is $195.30. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $243.70. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 23.05 and a beta of 0.87.

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 for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). The business had revenue of $602.20 million during the quarter, compared to the consensus estimate of $602.81 million. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Analysts forecast that UniFirst Co. will post 7.71 earnings per share for the current year.

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

UniFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, June 6th. UniFirst's payout ratio is currently 17.41%.

Insider Activity

In other news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $210.95, for a total transaction of $274,024.05. Following the transaction, the vice president now directly owns 6,455 shares of the company's stock, valued at $1,361,682.25. The trade was a 16.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on UNF shares. UBS Group increased their price target on UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Barclays reaffirmed an "underweight" rating and issued a $152.00 price objective (down from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Robert W. Baird dropped their target price on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, StockNews.com downgraded UniFirst from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $180.00.

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.