Unifirst Corporation (UNF) Stake Lowered by Nationwide Fund Advisors
Nationwide Fund Advisors reduced its stake in Unifirst Corporation (NYSE:UNF) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,899 shares of the textile maker’s stock after selling 1,050 shares during the quarter. Nationwide Fund Advisors’ holdings in Unifirst Corporation were worth $1,393,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Unifirst Corporation by 1.1% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,520 shares of the textile maker’s stock worth $498,000 after acquiring an additional 40 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Unifirst Corporation by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,069 shares of the textile maker’s stock worth $576,000 after acquiring an additional 69 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Unifirst Corporation by 6.4% in the 2nd quarter. Huntington National Bank now owns 1,285 shares of the textile maker’s stock worth $181,000 after acquiring an additional 77 shares during the last quarter. Aperio Group LLC lifted its holdings in Unifirst Corporation by 2.3% during the 2nd quarter. Aperio Group LLC now owns 4,585 shares of the textile maker’s stock worth $645,000 after buying an additional 104 shares in the last quarter. Finally, Texas Permanent School Fund lifted its holdings in Unifirst Corporation by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 11,290 shares of the textile maker’s stock worth $1,589,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.
A number of research firms have issued reports on UNF. Zacks Investment Research upgraded shares of Unifirst Corporation from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Tuesday, September 12th. BidaskClub lowered shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Robert W. Baird increased their target price on shares of Unifirst Corporation from $163.00 to $171.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Northcoast Research reiterated a “neutral” rating on shares of Unifirst Corporation in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Unifirst Corporation currently has a consensus rating of “Hold” and an average target price of $165.00.
Shares of Unifirst Corporation (NYSE:UNF) opened at 155.95 on Friday. Unifirst Corporation has a 12-month low of $118.15 and a 12-month high of $160.63. The firm’s 50-day moving average is $149.91 and its 200-day moving average is $142.11. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 28.74 and a beta of 0.70.
Unifirst Corporation (NYSE:UNF) last released its quarterly earnings data on Wednesday, October 18th. The textile maker reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.20. Unifirst Corporation had a net margin of 4.40% and a return on equity of 7.53%. The company had revenue of $403.60 million during the quarter, compared to the consensus estimate of $392.15 million. During the same period in the previous year, the firm earned $1.27 earnings per share. Unifirst Corporation’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that Unifirst Corporation will post $5.31 EPS for the current fiscal year.
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Unifirst Corporation Profile
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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