UniFirst Corporation $UNF Stock Sold by New South Capital Management Inc.

New South Capital Management Inc. cut its position in UniFirst Corporation (NYSE:UNF) by 42.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,442 shares of the textile maker’s stock after selling 13,860 shares during the quarter. New South Capital Management Inc. owned 0.10% of UniFirst worth $4,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in UniFirst during the 2nd quarter valued at about $31,000. Heritage Family Offices LLP purchased a new stake in UniFirst during the third quarter worth about $30,000. Longfellow Investment Management Co. LLC purchased a new stake in UniFirst during the second quarter worth about $69,000. Global Retirement Partners LLC purchased a new stake in UniFirst during the second quarter worth about $77,000. Finally, Nykredit A S acquired a new stake in shares of UniFirst during the second quarter worth about $110,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on UNF shares. Weiss Ratings reissued a “hold (c+)” rating on shares of UniFirst in a research note on Tuesday, October 6th. Zacks Research raised shares of UniFirst from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, UniFirst presently has an average rating of “Moderate Buy” and an average target price of $246.67.

UniFirst Price Performance

UNF opened at $240.14 on Thursday. UniFirst Corporation has a 12 month low of $151.51 and a 12 month high of $306.67. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 39.96 and a beta of 0.65. The business has a fifty day moving average price of $260.48 and a 200 day moving average price of $261.66.

UniFirst (NYSE:UNF) last posted its quarterly earnings results on Wednesday, October 21st. The textile maker reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.14). UniFirst had a net margin of 4.34% and a return on equity of 6.65%. The company had revenue of $645.01 million during the quarter, compared to analyst estimates of $634.40 million. During the same period in the prior year, the business earned $2.23 EPS. UniFirst’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts anticipate that UniFirst Corporation will post 8.52 earnings per share for the current year.

UniFirst Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 13th will be given a $0.3750 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from UniFirst’s previous quarterly dividend of $0.3650. UniFirst’s payout ratio is currently 24.96%.

UniFirst Profile

UniFirst Corporation provides uniform rental and workplace services to businesses across a range of industries. Its programs include workwear selection, laundering, inspection, repair, and scheduled delivery, as well as sales of uniforms and related apparel. The company also supplies facility services such as floor mats, towels, restroom products, and first aid and safety supplies. Through specialized operations, UniFirst provides cleanroom garments and related services for businesses that require controlled environments.