JPMorgan Chase & Co. Sells 86,893 Shares of UniFirst Corporation $UNF

JPMorgan Chase & Co. cut its stake in shares of UniFirst Corporation (NYSE:UNF) by 56.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 65,708 shares of the textile maker’s stock after selling 86,893 shares during the period. JPMorgan Chase & Co.’s holdings in UniFirst were worth $10,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisors Asset Management Inc. bought a new position in shares of UniFirst in the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after acquiring an additional 121 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of UniFirst by 474.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Danske Bank A S purchased a new position in UniFirst in the third quarter worth $33,000. Finally, Cornerstone Planning Group LLC purchased a new position in UniFirst in the third quarter worth $36,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Trading Down 1.0%

UniFirst stock opened at $248.94 on Friday. The firm has a market cap of $4.50 billion, a P/E ratio of 32.93 and a beta of 0.69. UniFirst Corporation has a 1-year low of $147.66 and a 1-year high of $283.77. The firm has a 50-day moving average of $236.09 and a 200-day moving average of $195.43.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, January 7th. The textile maker reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). The business had revenue of $621.32 million for the quarter, compared to analysts’ expectations of $615.23 million. UniFirst had a net margin of 5.70% and a return on equity of 6.68%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 EPS. UniFirst has set its FY 2026 guidance at 6.580-6.980 EPS. Research analysts forecast that UniFirst Corporation will post 7.71 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a dividend of $0.365 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.46 annualized dividend and a dividend yield of 0.6%. UniFirst’s payout ratio is 19.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on UNF shares. Robert W. Baird set a $198.00 price target on UniFirst in a research report on Thursday, January 8th. UBS Group upped their price objective on UniFirst from $182.00 to $206.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Zacks Research raised UniFirst from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of UniFirst in a research report on Wednesday, January 21st. Finally, Barclays upped their target price on UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $214.75.

Insider Activity

In related news, VP David Martin Katz sold 1,464 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $237.54, for a total transaction of $347,758.56. Following the completion of the transaction, the vice president owned 6,461 shares in the company, valued at $1,534,745.94. This represents a 18.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.86% of the company’s stock.

UniFirst Profile

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).