UniFirst Corp. (UNF) Position Reduced by RK Asset Management LLC
RK Asset Management LLC decreased its position in shares of UniFirst Corp. (NYSE:UNF) by 13.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,739 shares of the company’s stock after selling 7,983 shares during the period. UniFirst Corp. comprises 6.1% of RK Asset Management LLC’s investment portfolio, making the stock its 7th largest position. RK Asset Management LLC owned about 0.26% of UniFirst Corp. worth $6,822,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of UniFirst Corp. by 1,231.7% in the first quarter. Wellington Management Group LLP now owns 486,568 shares of the company’s stock worth $53,094,000 after buying an additional 450,032 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of UniFirst Corp. during the second quarter worth approximately $14,210,000. Dimensional Fund Advisors LP boosted its position in shares of UniFirst Corp. by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 809,878 shares of the company’s stock worth $93,718,000 after buying an additional 51,393 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of UniFirst Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 994,223 shares of the company’s stock worth $115,051,000 after buying an additional 43,001 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of UniFirst Corp. during the second quarter worth approximately $4,975,000. 75.01% of the stock is owned by hedge funds and other institutional investors.
UniFirst Corp. (NYSE:UNF) traded up 0.43% on Monday, hitting $141.00. The company had a trading volume of 133,987 shares. The firm’s 50 day moving average price is $128.41 and its 200 day moving average price is $121.30. The stock has a market cap of $2.86 billion, a P/E ratio of 22.84 and a beta of 0.71. UniFirst Corp. has a 12-month low of $96.90 and a 12-month high of $142.75.
UniFirst Corp. (NYSE:UNF) last released its earnings results on Wednesday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.04. The company earned $363.80 million during the quarter, compared to analyst estimates of $362.62 million. UniFirst Corp. had a return on equity of 8.74% and a net margin of 8.51%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 earnings per share. Equities analysts predict that UniFirst Corp. will post $5.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 9th will be issued a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. UniFirst Corp.’s payout ratio is currently 2.43%.
Separately, Zacks Investment Research cut UniFirst Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, October 22nd.
About UniFirst Corp.
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. 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, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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