UniFirst Corp (NYSE:UNF) announced a quarterly dividend on Thursday, June 28th, RTT News reports. Stockholders of record on Friday, September 7th will be paid a dividend of 0.1125 per share by the textile maker on Friday, September 28th. This represents a $0.45 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 6th.
UniFirst has a dividend payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect UniFirst to earn $7.48 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 6.0%.
Shares of UniFirst stock opened at $183.35 on Wednesday. UniFirst has a twelve month low of $140.20 and a twelve month high of $193.05. The stock has a market cap of $3.54 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.98 and a beta of 0.58.
UniFirst (NYSE:UNF) last released its quarterly earnings results on Wednesday, June 27th. The textile maker reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. The firm had revenue of $427.38 million for the quarter, compared to analyst estimates of $420.45 million. UniFirst had a net margin of 7.45% and a return on equity of 8.21%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share. analysts anticipate that UniFirst will post 6.23 earnings per share for the current year.
A number of research firms have commented on UNF. ValuEngine lowered shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Barrington Research restated a “hold” rating on shares of UniFirst in a research report on Friday, June 29th. Finally, Robert W. Baird boosted their price target on shares of UniFirst from $183.00 to $198.00 and gave the company an “outperform” rating in a research report on Thursday, June 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $202.00.
In other UniFirst news, major shareholder Cecelia Levenstein sold 500 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $188.78, for a total value of $94,390.00. Following the completion of the transaction, the insider now directly owns 118,808 shares of the company’s stock, valued at $22,428,574.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathleen M. Camilli sold 380 shares of the business’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $184.90, for a total transaction of $70,262.00. Following the completion of the transaction, the director now directly owns 2,394 shares of the company’s stock, valued at $442,650.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,028 shares of company stock worth $2,610,220. Company insiders own 1.00% of the company’s stock.
UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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