Bank of New York Mellon Corp Has $23.02 Million Stock Holdings in Unifirst Corporation $UNF

Bank of New York Mellon Corp decreased its position in shares of Unifirst Corporation (NYSE:UNF) by 0.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 122,297 shares of the textile maker’s stock after selling 976 shares during the quarter. Bank of New York Mellon Corp’s holdings in Unifirst were worth $23,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC increased its position in Unifirst by 3.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 608,245 shares of the textile maker’s stock worth $105,835,000 after acquiring an additional 17,530 shares during the period. Jones Financial Companies Lllp grew its position in shares of Unifirst by 85,558.5% during 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 in the last quarter. Northern Trust Corp increased its holdings in shares of Unifirst by 0.4% during the first 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 period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Unifirst by 353.8% during the first 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 period. Finally, Voss Capital LP acquired a new stake in shares of Unifirst in the first quarter valued at approximately $28,529,000. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research downgraded Unifirst from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Unifirst in a report on Wednesday, October 8th. Barclays dropped their price target on Unifirst from $152.00 to $145.00 and set an “underweight” rating for the company in a research note on Thursday, October 23rd. Finally, UBS Group set a $182.00 price objective on shares of Unifirst in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $174.75.

Unifirst Stock Up 1.7%

Shares of UNF stock opened at $161.92 on Friday. The business has a fifty day simple moving average of $163.60 and a 200 day simple moving average of $174.23. The company has a market cap of $3.00 billion, a P/E ratio of 20.29 and a beta of 0.81. Unifirst Corporation has a twelve month low of $147.66 and a twelve month high of $243.70.

Unifirst (NYSE:UNF) last issued its earnings results on Wednesday, October 22nd. The textile maker reported $2.28 EPS for the quarter, topping the consensus estimate of $2.15 by $0.13. The firm had revenue of $614.45 million during the quarter, compared to the consensus estimate of $607.02 million. Unifirst had a return on equity of 7.11% and a net margin of 6.10%.The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.39 earnings per share. Unifirst has set its FY 2026 guidance at 6.580-6.980 EPS. As a group, equities research analysts anticipate that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be paid a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. This is a positive change from Unifirst’s previous quarterly dividend of $0.35. Unifirst’s payout ratio is currently 18.30%.

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.