UniFirst Corporation $UNF Position Boosted by River Road Asset Management LLC

River Road Asset Management LLC grew its position in UniFirst Corporation (NYSE:UNF) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865,014 shares of the textile maker’s stock after purchasing an additional 75,524 shares during the period. UniFirst makes up approximately 1.8% of River Road Asset Management LLC’s holdings, making the stock its 9th largest holding. River Road Asset Management LLC owned approximately 4.79% of UniFirst worth $166,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Engine Capital Management LP lifted its position in UniFirst by 640.5% during the fourth quarter. Engine Capital Management LP now owns 459,871 shares of the textile maker’s stock valued at $88,709,000 after buying an additional 397,772 shares in the last quarter. Madison Avenue Partners LP acquired a new position in shares of UniFirst during the 4th quarter valued at $58,612,000. Brandes Investment Partners LP lifted its holdings in shares of UniFirst by 164.2% during the 4th quarter. Brandes Investment Partners LP now owns 367,786 shares of the textile maker’s stock valued at $70,946,000 after acquiring an additional 228,586 shares in the last quarter. First Trust Advisors LP boosted its position in UniFirst by 46.8% during the 4th quarter. First Trust Advisors LP now owns 451,194 shares of the textile maker’s stock worth $87,035,000 after purchasing an additional 143,853 shares during the period. Finally, Tweedy Browne Co LLC purchased a new stake in UniFirst during the 4th quarter worth $19,687,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on UNF shares. UBS Group raised their price objective on UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Barclays upped their target price on UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings upgraded UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, UniFirst currently has an average rating of “Hold” and a consensus price target of $228.25.

UniFirst Stock Up 0.4%

Shares of NYSE UNF opened at $260.83 on Friday. UniFirst Corporation has a fifty-two week low of $147.66 and a fifty-two week high of $283.77. The business has a 50 day moving average price of $261.93 and a two-hundred day moving average price of $234.79. The firm has a market cap of $4.72 billion, a PE ratio of 35.34 and a beta of 0.63.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, April 1st. The textile maker reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The business had revenue of $622.50 million during the quarter, compared to analyst estimates of $614.91 million. During the same period in the previous year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts anticipate that UniFirst Corporation will post 7.21 earnings per share for the current year.

UniFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, June 5th. UniFirst’s dividend payout ratio is 19.78%.

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).