UniFirst Co. (NYSE:UNF) Position Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in shares of UniFirst Co. (NYSE:UNF - Free Report) by 33.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,047 shares of the textile maker's stock after acquiring an additional 5,465 shares during the period. Lazard Asset Management LLC owned 0.12% of UniFirst worth $3,772,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of UNF. Barclays PLC lifted its holdings in shares of UniFirst by 464.6% during the 3rd quarter. Barclays PLC now owns 41,220 shares of the textile maker's stock worth $8,188,000 after acquiring an additional 33,919 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of UniFirst during the 4th quarter worth about $255,000. Park Avenue Securities LLC lifted its holdings in shares of UniFirst by 25.5% during the 4th quarter. Park Avenue Securities LLC now owns 2,793 shares of the textile maker's stock worth $478,000 after acquiring an additional 568 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of UniFirst by 34.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,799 shares of the textile maker's stock worth $308,000 after acquiring an additional 458 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of UniFirst by 12.8% during the 4th quarter. Inspire Investing LLC now owns 2,337 shares of the textile maker's stock worth $400,000 after acquiring an additional 265 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

UniFirst Trading Down 0.8%

NYSE:UNF traded down $1.52 during trading hours on Tuesday, hitting $187.41. The stock had a trading volume of 54,891 shares, compared to its average volume of 105,003. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $243.70. The business has a 50 day simple moving average of $180.14 and a two-hundred day simple moving average of $195.23. The company has a market cap of $3.48 billion, a PE ratio of 23.97 and a beta of 0.87.

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

UniFirst announced that its board has authorized a share repurchase program on Tuesday, April 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the textile maker to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

UniFirst Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 0.75%. The ex-dividend date is Friday, June 6th. UniFirst's payout ratio is currently 17.41%.

Wall Street Analysts Forecast Growth

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

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.