State Street Corp Has $51.06 Million Stake in Unifirst Corporation (NYSE:UNF)
State Street Corp increased its position in shares of Unifirst Corporation (NYSE:UNF) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,951 shares of the textile maker’s stock after buying an additional 20,461 shares during the period. State Street Corp owned 1.78% of Unifirst Corporation worth $51,056,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the stock. Bank of America Corp DE boosted its stake in shares of Unifirst Corporation by 18.5% in the first quarter. Bank of America Corp DE now owns 79,193 shares of the textile maker’s stock worth $11,201,000 after buying an additional 12,355 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Unifirst Corporation by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 88,819 shares of the textile maker’s stock worth $12,564,000 after buying an additional 3,916 shares during the last quarter. Invictus RG acquired a new stake in shares of Unifirst Corporation during the first quarter worth approximately $415,000. KCG Holdings Inc. acquired a new stake in shares of Unifirst Corporation during the first quarter worth approximately $235,000. Finally, BlackRock Inc. boosted its stake in shares of Unifirst Corporation by 52,993.4% in the first quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock worth $262,102,000 after buying an additional 1,849,471 shares during the last quarter. 74.13% of the stock is currently owned by hedge funds and other institutional investors.
Unifirst Corporation (NYSE:UNF) traded down 0.29% during midday trading on Friday, hitting $136.75. 44,797 shares of the company’s stock traded hands. The company has a 50 day moving average of $139.85 and a 200-day moving average of $137.29. Unifirst Corporation has a 52 week low of $116.67 and a 52 week high of $147.65. The company has a market capitalization of $2.77 billion, a PE ratio of 25.20 and a beta of 0.70.
Unifirst Corporation (NYSE:UNF) last issued its quarterly earnings results on Wednesday, June 28th. The textile maker reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.02. The firm had revenue of $409.80 million for the quarter, compared to analysts’ expectations of $396.07 million. Unifirst Corporation had a return on equity of 7.41% and a net margin of 7.12%. Unifirst Corporation’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. Equities research analysts predict that Unifirst Corporation will post $4.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.0375 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Unifirst Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Robert W. Baird raised shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $145.00 to $163.00 in a research note on Thursday, June 29th. Finally, BidaskClub cut shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
About Unifirst Corporation
UniFirst Corporation 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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