Brandes Investment Partners LP Increases Stake in UniFirst Co. (NYSE:UNF)

Brandes Investment Partners LP lifted its stake in shares of UniFirst Co. (NYSE:UNF) by 22.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,001 shares of the textile maker’s stock after acquiring an additional 5,659 shares during the period. Brandes Investment Partners LP owned 0.17% of UniFirst worth $5,304,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Independence Bank of Kentucky purchased a new position in shares of UniFirst during the 4th quarter worth about $34,000. Blue Trust Inc. raised its holdings in UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock valued at $39,000 after buying an additional 210 shares during the period. Smartleaf Asset Management LLC raised its holdings in UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock valued at $59,000 after buying an additional 247 shares during the period. Jones Financial Companies Lllp raised its holdings in UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock valued at $61,000 after buying an additional 234 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in UniFirst by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after buying an additional 52 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of UniFirst from $190.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. StockNews.com lowered shares of UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th.

UniFirst Stock Up 0.8 %

Shares of NYSE:UNF opened at $204.09 on Friday. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $243.70. The company has a 50 day moving average of $215.25 and a two-hundred day moving average of $198.42. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 26.10 and a beta of 0.89.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The company had revenue of $604.91 million during the quarter, compared to the consensus estimate of $606.60 million. During the same quarter last year, the company earned $2.26 earnings per share. UniFirst’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, March 7th. UniFirst’s payout ratio is currently 17.90%.

Insider Transactions at UniFirst

In other news, VP David Martin Katz sold 1,299 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total transaction of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares of the company’s stock, valued at approximately $1,361,682.25. This trade represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

About UniFirst

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.