BNP Paribas Arbitrage SA Raises Stake in Unifirst Corporation (UNF)
BNP Paribas Arbitrage SA lifted its position in Unifirst Corporation (NYSE:UNF) by 40.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,104 shares of the textile maker’s stock after purchasing an additional 2,326 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Unifirst were worth $1,228,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Prudential Financial Inc. grew its position in Unifirst by 2.7% in the third quarter. Prudential Financial Inc. now owns 27,328 shares of the textile maker’s stock worth $4,140,000 after acquiring an additional 710 shares in the last quarter. American Century Companies Inc. grew its position in Unifirst by 1.7% in the third quarter. American Century Companies Inc. now owns 29,390 shares of the textile maker’s stock worth $4,453,000 after acquiring an additional 500 shares in the last quarter. Victory Capital Management Inc. grew its position in Unifirst by 5.3% in the third quarter. Victory Capital Management Inc. now owns 586,882 shares of the textile maker’s stock worth $88,912,000 after acquiring an additional 29,575 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Unifirst in the third quarter worth about $518,000. Finally, Public Employees Retirement System of Ohio grew its position in Unifirst by 3.6% in the second quarter. Public Employees Retirement System of Ohio now owns 63,582 shares of the textile maker’s stock worth $8,946,000 after acquiring an additional 2,184 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on UNF. Zacks Investment Research upgraded Unifirst from a “hold” rating to a “buy” rating and set a $162.00 price target for the company in a research report on Wednesday, September 6th. Northcoast Research reiterated a “neutral” rating on shares of Unifirst in a research report on Thursday, October 19th. Finally, Robert W. Baird lifted their price target on Unifirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $165.00.
Unifirst (NYSE:UNF) last announced its earnings results on Wednesday, October 18th. The textile maker reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.20. Unifirst had a negative return on equity of 1.31% and a negative net margin of 1.21%. The business had revenue of $403.60 million during the quarter, compared to analyst estimates of $392.15 million. During the same quarter in the previous year, the business earned $1.27 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. equities research analysts predict that Unifirst Corporation will post 5.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 8th will be given a dividend of $0.0375 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.15 annualized dividend and a dividend yield of 0.09%. Unifirst’s dividend payout ratio (DPR) is presently 4.37%.
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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