Squarepoint Ops LLC Boosts Stock Position in UniFirst Corporation $UNF

Squarepoint Ops LLC raised its stake in UniFirst Corporation (NYSE:UNF) by 75.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,196 shares of the textile maker’s stock after buying an additional 46,221 shares during the quarter. Squarepoint Ops LLC’s holdings in UniFirst were worth $28,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of UNF. Modus Advisors LLC purchased a new stake in shares of UniFirst in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its holdings in UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Danske Bank A S purchased a new stake in shares of UniFirst in the 3rd quarter valued at approximately $33,000. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of UniFirst during the 2nd quarter worth approximately $69,000. 78.17% of the stock is owned by institutional investors and hedge funds.

UniFirst Trading Up 0.0%

NYSE:UNF opened at $275.26 on Wednesday. The firm has a market cap of $4.98 billion, a PE ratio of 43.42 and a beta of 0.61. The stock has a fifty day moving average price of $284.67 and a 200 day moving average price of $267.95. UniFirst Corporation has a 12-month low of $147.66 and a 12-month high of $306.67.

UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.84). The company had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $627.66 million. UniFirst had a return on equity of 6.44% and a net margin of 4.65%.UniFirst’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 EPS. Equities analysts forecast that UniFirst Corporation will post 7.49 EPS for the current year.

UniFirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. UniFirst’s dividend payout ratio is currently 23.03%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UNF. Weiss Ratings lowered UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. UBS Group set a $262.00 price objective on shares of UniFirst in a report on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, UniFirst presently has a consensus rating of “Hold” and an average price target of $246.67.

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).