Martingale Asset Management L P Boosts Position in UniFirst Corp (UNF)

Martingale Asset Management L P grew its position in UniFirst Corp (NYSE:UNF) by 50.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,605 shares of the textile maker’s stock after buying an additional 10,602 shares during the period. Martingale Asset Management L P’s holdings in UniFirst were worth $5,489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Piedmont Investment Advisors LLC raised its holdings in UniFirst by 8.6% in the second quarter. Piedmont Investment Advisors LLC now owns 3,591 shares of the textile maker’s stock worth $635,000 after buying an additional 283 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in UniFirst by 43.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 947 shares of the textile maker’s stock worth $168,000 after buying an additional 286 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in UniFirst by 13.8% in the second quarter. Xact Kapitalforvaltning AB now owns 2,479 shares of the textile maker’s stock worth $439,000 after buying an additional 300 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in UniFirst by 30.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,698 shares of the textile maker’s stock worth $301,000 after buying an additional 393 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in UniFirst by 1.3% in the second quarter. Raymond James & Associates now owns 32,288 shares of the textile maker’s stock worth $5,712,000 after buying an additional 409 shares during the last quarter. 76.16% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $152.65, for a total transaction of $335,830.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 6,600 shares of company stock valued at $1,067,110 over the last three months. 1.00% of the stock is owned by corporate insiders.

UNF has been the subject of several recent analyst reports. Robert W. Baird set a $170.00 target price on shares of UniFirst and gave the stock a “buy” rating in a report on Thursday, October 18th. ValuEngine cut shares of UniFirst from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Zacks Investment Research cut shares of UniFirst from a “buy” rating to a “hold” rating in a report on Thursday, August 30th.

UNF opened at $146.82 on Monday. UniFirst Corp has a twelve month low of $143.68 and a twelve month high of $193.05. The company has a market cap of $2.81 billion, a PE ratio of 19.71 and a beta of 0.75.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, October 17th. The textile maker reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.42. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. The firm had revenue of $434.10 million during the quarter, compared to analysts’ expectations of $421.45 million. During the same period in the previous year, the company earned $1.44 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that UniFirst Corp will post 7.01 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.1125 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.45 annualized dividend and a dividend yield of 0.31%. UniFirst’s payout ratio is 6.04%.

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UniFirst Profile

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.

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Institutional Ownership by Quarter for UniFirst (NYSE:UNF)

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