BTIM Corp. Decreases Stake in UniFirst Corp. (UNF)
BTIM Corp. decreased its stake in shares of UniFirst Corp. (NYSE:UNF) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 322,605 shares of the company’s stock after selling 544 shares during the period. BTIM Corp.’s holdings in UniFirst Corp. were worth $42,538,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Amalgamated Bank purchased a new stake in shares of UniFirst Corp. during the second quarter worth about $213,000. PineBridge Investments L.P. raised its stake in UniFirst Corp. by 3.9% in the second quarter. PineBridge Investments L.P. now owns 1,939 shares of the company’s stock worth $225,000 after buying an additional 73 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in UniFirst Corp. during the second quarter worth $231,000. Pacad Investment Ltd. bought a new stake in UniFirst Corp. during the second quarter worth $231,000. Finally, Cubist Systematic Strategies LLC bought a new stake in UniFirst Corp. during the second quarter worth $240,000. Institutional investors and hedge funds own 75.21% of the company’s stock.
UniFirst Corp. (NYSE:UNF) traded up 0.35% during mid-day trading on Wednesday, reaching $141.85. The company’s stock had a trading volume of 6,269 shares. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 22.98 and a beta of 0.71. UniFirst Corp. has a 52 week low of $96.90 and a 52 week high of $142.75. The company’s 50-day moving average price is $129.97 and its 200 day moving average price is $122.81.
UniFirst Corp. (NYSE:UNF) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.04. The business earned $363.80 million during the quarter, compared to the consensus estimate of $362.62 million. UniFirst Corp. had a net margin of 8.51% and a return on equity of 8.74%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. On average, equities analysts forecast that UniFirst Corp. will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 9th will be issued a dividend of $0.0375 per share. The ex-dividend date is Wednesday, December 7th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. UniFirst Corp.’s dividend payout ratio is currently 2.43%.
Separately, Zacks Investment Research lowered UniFirst Corp. from a “hold” rating to a “sell” rating in a report on Saturday, October 22nd.
About UniFirst Corp.
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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