64,906 Shares in UniFirst Corporation $UNF Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC purchased a new position in UniFirst Corporation (NYSE:UNF) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 64,906 shares of the textile maker’s stock, valued at approximately $17,165,000.

Other large investors also recently modified their holdings of the company. Modus Advisors LLC acquired a new stake in UniFirst during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of UniFirst by 378.1% during the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after buying an additional 121 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of UniFirst by 474.1% during the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after buying an additional 128 shares during the last quarter. Danske Bank A S acquired a new position in shares of UniFirst during the third quarter worth approximately $33,000. Finally, Longfellow Investment Management Co. LLC bought a new position in UniFirst in the 2nd quarter worth approximately $69,000. 78.17% of the stock is currently owned by institutional investors.

UniFirst Stock Performance

UniFirst stock opened at $285.84 on Tuesday. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 45.09 and a beta of 0.62. UniFirst Corporation has a 1 year low of $147.66 and a 1 year high of $306.67. The firm’s 50 day moving average price is $279.05 and its two-hundred day moving average price is $260.85.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, July 1st. The textile maker reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). The company had revenue of $634.40 million for the quarter, compared to analyst estimates of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. UniFirst’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. As a group, equities analysts predict that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

UniFirst Dividend Announcement

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

Analyst Ratings Changes

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

About UniFirst

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).