Summit Global Investments Decreases Stake in UniFirst Co. (NYSE:UNF)

Summit Global Investments decreased its stake in UniFirst Co. (NYSE:UNFGet Rating) by 44.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,800 shares of the textile maker’s stock after selling 3,800 shares during the period. Summit Global Investments’ holdings in UniFirst were worth $1,010,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of UNF. Aurora Investment Counsel grew its position in UniFirst by 0.9% in the third quarter. Aurora Investment Counsel now owns 6,337 shares of the textile maker’s stock valued at $1,347,000 after acquiring an additional 57 shares in the last quarter. Marshall Wace North America L.P. lifted its holdings in UniFirst by 17.4% in the 1st quarter. Marshall Wace North America L.P. now owns 473 shares of the textile maker’s stock worth $73,000 after buying an additional 70 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in UniFirst by 1.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,070 shares of the textile maker’s stock valued at $1,277,000 after buying an additional 72 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of UniFirst by 90.1% during the fourth quarter. Quadrant Capital Group LLC now owns 154 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 73 shares in the last quarter. Finally, Oak Family Advisors LLC increased its position in shares of UniFirst by 4.1% during the fourth quarter. Oak Family Advisors LLC now owns 1,892 shares of the textile maker’s stock worth $398,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

UniFirst stock opened at $161.81 on Friday. UniFirst Co. has a 12-month low of $156.04 and a 12-month high of $242.79. The stock has a market capitalization of $3.04 billion, a PE ratio of 23.90 and a beta of 0.99. The firm has a 50 day simple moving average of $171.81 and a 200-day simple moving average of $185.10.

UniFirst (NYSE:UNFGet Rating) last posted its quarterly earnings results on Wednesday, March 30th. The textile maker reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.38). The firm had revenue of $486.70 million for the quarter, compared to analysts’ expectations of $481.09 million. UniFirst had a return on equity of 7.36% and a net margin of 6.77%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business earned $1.71 earnings per share. As a group, equities research analysts forecast that UniFirst Co. will post 6.91 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 8th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $1.20 annualized dividend and a dividend yield of 0.74%. UniFirst’s payout ratio is 17.73%.

A number of brokerages have weighed in on UNF. StockNews.com lowered UniFirst from a “buy” rating to a “hold” rating in a research note on Saturday, May 21st. Robert W. Baird dropped their price target on shares of UniFirst from $213.00 to $195.00 in a research note on Wednesday, May 18th. Zacks Investment Research downgraded shares of UniFirst from a “hold” rating to a “sell” rating in a research note on Saturday, April 2nd. JPMorgan Chase & Co. downgraded shares of UniFirst from a “neutral” rating to an “underweight” rating in a research report on Friday, April 1st. Finally, TheStreet lowered shares of UniFirst from a “b” rating to a “c+” rating in a research note on Thursday, January 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $195.00.

UniFirst Company Profile (Get Rating)

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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Institutional Ownership by Quarter for UniFirst (NYSE:UNF)

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