PNC Financial Services Group Inc. Reduces Position in UniFirst Corp (NYSE:UNF)

PNC Financial Services Group Inc. decreased its stake in UniFirst Corp (NYSE:UNF) by 58.2% in the 1st quarter, Holdings Channel reports. The firm owned 19,540 shares of the textile maker’s stock after selling 27,234 shares during the quarter. PNC Financial Services Group Inc.’s holdings in UniFirst were worth $2,999,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Teachers Advisors LLC grew its holdings in UniFirst by 2.2% during the 3rd quarter. Teachers Advisors LLC now owns 29,657 shares of the textile maker’s stock worth $5,150,000 after acquiring an additional 637 shares during the period. KBC Group NV acquired a new stake in UniFirst during the 4th quarter worth $55,000. Rhumbline Advisers grew its holdings in UniFirst by 20.3% during the 4th quarter. Rhumbline Advisers now owns 47,146 shares of the textile maker’s stock worth $6,745,000 after acquiring an additional 7,944 shares during the period. TD Asset Management Inc. grew its holdings in UniFirst by 2.9% during the 4th quarter. TD Asset Management Inc. now owns 28,700 shares of the textile maker’s stock worth $4,106,000 after acquiring an additional 800 shares during the period. Finally, LS Investment Advisors LLC grew its holdings in UniFirst by 95.8% during the 4th quarter. LS Investment Advisors LLC now owns 836 shares of the textile maker’s stock worth $120,000 after acquiring an additional 409 shares during the period. 77.07% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised shares of UniFirst from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th.

In other news, major shareholder The Ronald D. Croatti Trust – 1 sold 5,583 shares of UniFirst stock in a transaction on Monday, April 15th. The shares were sold at an average price of $154.71, for a total transaction of $863,745.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David A. Difillippo sold 840 shares of UniFirst stock in a transaction on Friday, March 29th. The stock was sold at an average price of $155.68, for a total transaction of $130,771.20. Following the transaction, the vice president now directly owns 6,856 shares in the company, valued at $1,067,342.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,427 shares of company stock worth $1,467,149. Insiders own 1.00% of the company’s stock.

Shares of NYSE UNF traded up $1.20 during midday trading on Wednesday, reaching $163.85. 2,593 shares of the stock were exchanged, compared to its average volume of 116,737. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 22.01 and a beta of 0.63. UniFirst Corp has a 12 month low of $132.38 and a 12 month high of $193.05.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, March 27th. The textile maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.15. The company had revenue of $437.50 million for the quarter, compared to analysts’ expectations of $434.90 million. UniFirst had a net margin of 8.73% and a return on equity of 8.89%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share. As a group, analysts forecast that UniFirst Corp will post 6.94 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.1125 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.27%. UniFirst’s dividend payout ratio is 6.04%.

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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. Rental and Cleaning, 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.

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Institutional Ownership by Quarter for UniFirst (NYSE:UNF)

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