Copeland Capital Management LLC Lowers Holdings in Unifirst Corporation $UNF

Copeland Capital Management LLC lessened its stake in Unifirst Corporation (NYSE:UNF) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,556 shares of the textile maker’s stock after selling 30,860 shares during the quarter. Unifirst accounts for approximately 1.3% of Copeland Capital Management LLC’s holdings, making the stock its 27th biggest position. Copeland Capital Management LLC’s holdings in Unifirst were worth $62,029,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Unifirst by 3.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 608,245 shares of the textile maker’s stock worth $105,835,000 after purchasing an additional 17,530 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Unifirst by 85,558.5% in the 1st quarter. Jones Financial Companies Lllp now owns 307,514 shares of the textile maker’s stock worth $53,507,000 after purchasing an additional 307,155 shares during the last quarter. Northern Trust Corp raised its position in shares of Unifirst by 0.4% in the 1st quarter. Northern Trust Corp now owns 264,345 shares of the textile maker’s stock worth $45,996,000 after purchasing an additional 1,023 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Unifirst by 353.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 171,346 shares of the textile maker’s stock worth $29,815,000 after purchasing an additional 133,588 shares during the last quarter. Finally, Voss Capital LP purchased a new position in shares of Unifirst in the 1st quarter worth about $28,529,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Unifirst Trading Up 0.5%

Shares of NYSE:UNF opened at $167.17 on Friday. Unifirst Corporation has a 12-month low of $156.34 and a 12-month high of $243.70. The company has a market cap of $3.10 billion, a PE ratio of 20.54 and a beta of 0.86. The stock has a 50 day moving average of $172.83 and a 200 day moving average of $177.86.

Unifirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share (EPS) for the quarter, beating 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 business had revenue of $610.78 million during the quarter, compared to analyst estimates of $614.50 million. During the same period last year, the firm posted $2.20 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities research analysts predict that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 5th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, September 5th. Unifirst’s dividend payout ratio (DPR) is 17.20%.

Analyst Ratings Changes

A number of equities analysts have weighed in on UNF shares. Barclays set a $152.00 target price on Unifirst and gave the stock an “underweight” rating in a research report on Monday, June 30th. JPMorgan Chase & Co. assumed coverage on Unifirst in a research note on Monday, July 14th. They set an “underweight” rating and a $175.00 price target for the company. UBS Group cut their price objective on Unifirst from $196.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, June 30th. Finally, Robert W. Baird set a $197.00 price objective on Unifirst in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $179.50.

About Unifirst

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.