Unifirst Corporation (UNF) to Issue Quarterly Dividend of $0.37 on January 2nd

Unifirst Corporation (NYSE:UNF) declared a quarterly dividend on Tuesday, October 28th. Shareholders of record on Friday, December 5th will be paid a dividend of 0.365 per share by the textile maker on Friday, January 2nd. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. This is a 4.3% increase from Unifirst’s previous quarterly dividend of $0.35.

Unifirst has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Unifirst has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Unifirst to earn $8.68 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 16.8%.

Unifirst Stock Performance

Shares of UNF traded down $1.52 during trading hours on Wednesday, hitting $175.68. The stock had a trading volume of 16,089 shares, compared to its average volume of 134,437. The firm has a 50-day moving average price of $162.51 and a 200 day moving average price of $172.82. Unifirst has a fifty-two week low of $147.66 and a fifty-two week high of $243.70. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 22.01 and a beta of 0.76.

Unifirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, October 22nd. The textile maker reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.13. Unifirst had a net margin of 6.10% and a return on equity of 7.11%. The business had revenue of $614.45 million for the quarter, compared to the consensus estimate of $607.02 million. During the same period last year, the firm posted $2.39 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. Unifirst has set its FY 2026 guidance at 6.580-6.980 EPS. As a group, analysts predict that Unifirst will post 7.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Unifirst

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its position in Unifirst by 53.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 37,411 shares of the textile maker’s stock worth $6,255,000 after buying an additional 12,965 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Unifirst during the 3rd quarter worth approximately $269,000. Danske Bank A S acquired a new stake in shares of Unifirst in the 3rd quarter worth approximately $33,000. Advisory Services Network LLC purchased a new position in Unifirst in the 3rd quarter valued at approximately $57,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Unifirst by 2.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 12,909 shares of the textile maker’s stock worth $2,149,000 after purchasing an additional 290 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Unifirst Company Profile

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.