Envestnet Asset Management Inc. Buys 3,583 Shares of UniFirst Co. (NYSE:UNF)

Posted by on Sep 4th, 2023

Envestnet Asset Management Inc. increased its position in UniFirst Co. (NYSE:UNF – Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,387 shares of the textile maker’s stock after buying an additional 3,583 shares during the period. Envestnet Asset Management Inc. owned 0.43% of UniFirst worth $14,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of UniFirst by 2.9% during the first quarter. Rhumbline Advisers now owns 54,315 shares of the textile maker’s stock valued at $9,572,000 after acquiring an additional 1,506 shares in the last quarter. Wealth Alliance lifted its stake in shares of UniFirst by 9.7% in the first quarter. Wealth Alliance now owns 1,389 shares of the textile maker’s stock valued at $245,000 after buying an additional 123 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of UniFirst by 0.5% during the first quarter. Guggenheim Capital LLC now owns 19,163 shares of the textile maker’s stock valued at $3,377,000 after buying an additional 90 shares during the last quarter. Moran Wealth Management LLC increased its position in shares of UniFirst by 16.4% during the first quarter. Moran Wealth Management LLC now owns 20,053 shares of the textile maker’s stock worth $3,534,000 after acquiring an additional 2,823 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in UniFirst in the 1st quarter valued at about $273,000. 76.69% of the stock is owned by institutional investors.

UniFirst Trading Up 1.9 %

UNF stock opened at $179.49 on Monday. UniFirst Co. has a 1-year low of $150.50 and a 1-year high of $205.59. The stock has a market cap of $3.36 billion, a P/E ratio of 32.99 and a beta of 0.83. The stock’s fifty day simple moving average is $162.92 and its two-hundred day simple moving average is $172.35.

UniFirst (NYSE:UNF – Get Free Report) last posted its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.50). The company had revenue of $576.70 million for the quarter, compared to analysts’ expectations of $564.19 million. UniFirst had a return on equity of 6.03% and a net margin of 4.69%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. As a group, analysts forecast that UniFirst Co. will post 6.92 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 7th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $1.24 annualized dividend and a yield of 0.69%. UniFirst’s payout ratio is 22.79%.

Analyst Ratings Changes

UNF has been the topic of a number of recent research reports. StockNews.com began coverage on UniFirst in a report on Thursday, August 17th. They issued a “hold” rating on the stock. UBS Group started coverage on shares of UniFirst in a report on Wednesday, May 31st. They set a “neutral” rating and a $185.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of UniFirst from $155.00 to $150.00 in a report on Thursday, June 29th.

Get Our Latest Research Report on UniFirst

About UniFirst

(Free Report)

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.

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Institutional Ownership by Quarter for UniFirst (NYSE:UNF)

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