UniFirst Corp (UNF) Declares $0.04 Quarterly Dividend

UniFirst Corp (NYSE:UNF) announced a quarterly dividend on Tuesday, January 9th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.0375 per share by the textile maker on Friday, March 30th. This represents a $0.15 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, March 8th.

UniFirst has a dividend payout ratio of 2.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect UniFirst to earn $6.04 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 2.5%.

Shares of UniFirst (NYSE:UNF) traded down $0.35 during midday trading on Tuesday, reaching $171.15. 42,300 shares of the company traded hands, compared to its average volume of 84,311. UniFirst has a one year low of $124.85 and a one year high of $176.15. The stock has a market cap of $3,472.46, a PE ratio of 46.01, a PEG ratio of 3.16 and a beta of 0.74.

UniFirst (NYSE:UNF) last posted its quarterly earnings results on Wednesday, January 3rd. The textile maker reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.19. UniFirst had a net margin of 4.69% and a return on equity of 7.72%. The business had revenue of $415.80 million during the quarter, compared to analysts’ expectations of $404.60 million. During the same quarter in the prior year, the company posted $1.38 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts predict that UniFirst will post 5.41 EPS for the current year.

UNF has been the subject of several analyst reports. Zacks Investment Research raised shares of UniFirst from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Tuesday, December 26th. Northcoast Research reissued a “neutral” rating on shares of UniFirst in a research note on Thursday, October 19th. Finally, Robert W. Baird increased their price objective on shares of UniFirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $180.00.

In other UniFirst news, VP David Martin Katz sold 1,060 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $168.15, for a total transaction of $178,239.00. Following the sale, the vice president now directly owns 2,667 shares in the company, valued at approximately $448,456.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael A. Croatti sold 1,216 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $168.99, for a total transaction of $205,491.84. Following the sale, the vice president now owns 3,375 shares in the company, valued at $570,341.25. The disclosure for this sale can be found here. Insiders have sold a total of 2,401 shares of company stock valued at $405,193 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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About UniFirst

UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. 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, aprons and specialized protective wear, such as flame resistant and high visibility garments.

Dividend History for UniFirst (NYSE:UNF)

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