UniFirst Corporation $UNF Stock Holdings Lifted by Engine Capital Management LP

Engine Capital Management LP increased its holdings in shares of UniFirst Corporation (NYSE:UNF) by 640.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 459,871 shares of the textile maker’s stock after buying an additional 397,772 shares during the quarter. UniFirst accounts for about 12.2% of Engine Capital Management LP’s portfolio, making the stock its 3rd largest position. Engine Capital Management LP owned approximately 2.54% of UniFirst worth $88,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. purchased a new stake in UniFirst during the 4th quarter valued at about $12,318,000. Jain Global LLC purchased a new stake in UniFirst during the 4th quarter valued at about $223,000. Westerly Capital Management LLC purchased a new stake in UniFirst during the 4th quarter valued at about $4,822,000. FIL Ltd purchased a new stake in UniFirst during the 4th quarter valued at about $8,198,000. Finally, Laurion Capital Management LP purchased a new stake in UniFirst during the 4th quarter valued at about $874,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

UniFirst Stock Down 2.2%

Shares of UNF opened at $260.09 on Thursday. UniFirst Corporation has a 52 week low of $147.66 and a 52 week high of $283.77. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 35.24 and a beta of 0.63. The stock’s 50-day moving average price is $261.81 and its 200-day moving average price is $234.17.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). UniFirst had a return on equity of 6.49% and a net margin of 5.49%.The company had revenue of $622.51 million during the quarter, compared to analysts’ expectations of $614.91 million. During the same quarter in the previous year, the company earned $1.31 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that UniFirst Corporation will post 7.21 EPS for the current fiscal year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.365 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.6%. UniFirst’s dividend payout ratio is presently 19.78%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings upgraded UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. UBS Group boosted their price target on UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Finally, Barclays boosted their price target on UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UniFirst currently has an average rating of “Hold” and an average price target of $228.25.

UniFirst Profile

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).