UniFirst Corp (UNF) Declares Quarterly Dividend of $0.04

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 dividend on an annualized basis and a yield of 0.09%.

UniFirst has a payout ratio of 2.8% meaning its dividend is sufficiently covered by earnings. 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 up $0.10 during trading on Tuesday, reaching $171.70. The company had a trading volume of 77,000 shares, compared to its average volume of 107,240. UniFirst has a 1-year low of $124.85 and a 1-year high of $176.15. The firm has a market cap of $3,440.00, a price-to-earnings ratio of 45.91, a PEG ratio of 3.17 and a beta of 0.74.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, January 3rd. The textile maker reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.19. UniFirst had a return on equity of 7.72% and a net margin of 4.69%. The business had revenue of $415.80 million for the quarter, compared to analyst estimates of $404.60 million. During the same quarter last year, the firm earned $1.38 EPS. UniFirst’s revenue for the quarter was up 7.7% compared to the same quarter last year. sell-side analysts predict that UniFirst will post 5.41 EPS for the current fiscal year.

In other news, VP David Martin Katz sold 1,060 shares of UniFirst stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $168.15, for a total transaction of $178,239.00. Following the completion of the transaction, the vice president now directly owns 2,667 shares in the company, valued at approximately $448,456.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Croatti sold 1,216 shares of UniFirst stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $168.99, for a total value of $205,491.84. Following the transaction, the vice president now owns 3,375 shares of the company’s stock, 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 worth $405,193 in the last ninety days. Insiders own 1.00% of the company’s stock.

A number of equities research analysts recently issued reports on UNF shares. Zacks Investment Research raised UniFirst from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Tuesday, September 12th. Northcoast Research reaffirmed a “neutral” rating on shares of UniFirst in a research report on Thursday, October 19th. Finally, Robert W. Baird boosted their price target on 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 issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $180.00.

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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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