JPMorgan Chase & Co. lifted its position in shares of UniFirst Co. (NYSE:UNF – Get Rating) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 502,594 shares of the textile maker’s stock after purchasing an additional 2,318 shares during the period. JPMorgan Chase & Co.’s holdings in UniFirst were worth $86,537,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its holdings in UniFirst by 16.4% in the second quarter. Mutual of America Capital Management LLC now owns 2,550 shares of the textile maker’s stock valued at $439,000 after acquiring an additional 359 shares during the last quarter. Mackenzie Financial Corp bought a new stake in UniFirst in the second quarter valued at approximately $263,000. Godshalk Welsh Capital Management Inc. boosted its holdings in UniFirst by 2.8% in the second quarter. Godshalk Welsh Capital Management Inc. now owns 3,725 shares of the textile maker’s stock valued at $641,000 after acquiring an additional 100 shares during the last quarter. Duality Advisers LP boosted its holdings in UniFirst by 20.9% in the second quarter. Duality Advisers LP now owns 6,940 shares of the textile maker’s stock valued at $1,195,000 after acquiring an additional 1,201 shares during the last quarter. Finally, Boyar Asset Management Inc. boosted its holdings in UniFirst by 11.4% in the second quarter. Boyar Asset Management Inc. now owns 1,629 shares of the textile maker’s stock valued at $280,000 after acquiring an additional 167 shares during the last quarter. 77.84% of the stock is currently owned by institutional investors.
Insider Transactions at UniFirst
In other news, CEO Steven S. Sintros sold 1,567 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $180.00, for a total transaction of $282,060.00. Following the transaction, the chief executive officer now directly owns 20,272 shares of the company’s stock, valued at $3,648,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Shane O’connor sold 1,233 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $180.00, for a total transaction of $221,940.00. Following the completion of the sale, the chief financial officer now owns 3,901 shares in the company, valued at $702,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven S. Sintros sold 1,567 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $180.00, for a total value of $282,060.00. Following the sale, the chief executive officer now owns 20,272 shares of the company’s stock, valued at approximately $3,648,960. The disclosure for this sale can be found here. Insiders have sold 2,978 shares of company stock valued at $536,040 over the last ninety days. 1.20% of the stock is owned by company insiders.
Analyst Ratings Changes
UniFirst Stock Performance
Shares of UNF opened at $191.83 on Thursday. UniFirst Co. has a 52-week low of $154.72 and a 52-week high of $214.65. The business’s 50 day moving average price is $176.26 and its two-hundred day moving average price is $176.00. The firm has a market cap of $3.58 billion, a PE ratio of 35.13 and a beta of 0.94.
UniFirst (NYSE:UNF – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The textile maker reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.06. UniFirst had a return on equity of 6.77% and a net margin of 5.17%. The firm had revenue of $516.40 million for the quarter, compared to analyst estimates of $511.58 million. During the same period in the previous year, the firm earned $1.82 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. Research analysts predict that UniFirst Co. will post 7.24 EPS for the current fiscal year.
UniFirst Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 7th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from UniFirst’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, December 6th. UniFirst’s dividend payout ratio is presently 21.98%.
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. 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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