Bessemer Group Inc. lifted its position in UniFirst Corp (NYSE:UNF) by 321.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,104 shares of the textile maker’s stock after buying an additional 74,804 shares during the quarter. Bessemer Group Inc. owned approximately 0.52% of UniFirst worth $18,499,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of UniFirst by 0.4% in the 1st quarter. BlackRock Inc. now owns 2,233,667 shares of the textile maker’s stock valued at $342,868,000 after buying an additional 9,151 shares during the period. Janus Henderson Group PLC boosted its position in shares of UniFirst by 24.0% during the 1st quarter. Janus Henderson Group PLC now owns 714,003 shares of the textile maker’s stock worth $109,599,000 after acquiring an additional 138,172 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of UniFirst by 6.0% during the 1st quarter. Victory Capital Management Inc. now owns 549,351 shares of the textile maker’s stock worth $84,325,000 after acquiring an additional 31,210 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of UniFirst by 8.1% during the 4th quarter. Macquarie Group Ltd. now owns 301,680 shares of the textile maker’s stock worth $43,162,000 after acquiring an additional 22,700 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of UniFirst during the 1st quarter worth about $44,385,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.
Shares of NYSE UNF traded up $1.28 during trading hours on Tuesday, reaching $189.39. The stock had a trading volume of 3,189 shares, compared to its average volume of 142,163. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 25.37 and a beta of 0.74. UniFirst Corp has a fifty-two week low of $132.38 and a fifty-two week high of $192.39. The business’s 50-day simple moving average is $177.63.
UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, June 26th. The textile maker reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.76. The firm had revenue of $453.72 million during the quarter, compared to analysts’ expectations of $441.70 million. UniFirst had a return on equity of 9.67% and a net margin of 9.21%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 EPS. Research analysts forecast that UniFirst Corp will post 7.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.24%. UniFirst’s dividend payout ratio (DPR) is presently 6.04%.
Several research firms have recently issued reports on UNF. JPMorgan Chase & Co. cut Sogou from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $5.50 to $4.12 in a research report on Thursday, June 27th. Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. Finally, ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th.
In related news, VP David A. Difillippo sold 874 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $157.76, for a total value of $137,882.24. Following the completion of the sale, the vice president now directly owns 11,162 shares of the company’s stock, valued at approximately $1,760,917.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David A. Difillippo sold 883 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $157.85, for a total value of $139,381.55. Following the completion of the sale, the vice president now directly owns 11,162 shares of the company’s stock, valued at $1,761,921.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,928 shares of company stock valued at $305,112. 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, Europe, and Canada. The company operates through U.S. Rental and Cleaning, 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.
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