The Ronald D. Croatti Trust – 1 Sells 5,584 Shares of UniFirst Corp (UNF) Stock

UniFirst Corp (NYSE:UNF) major shareholder The Ronald D. Croatti Trust – 1 sold 5,584 shares of the firm’s stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $137.81, for a total transaction of $769,531.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

UNF opened at $137.53 on Friday. The stock has a market capitalization of $2.65 billion, a PE ratio of 18.46 and a beta of 0.77. UniFirst Corp has a twelve month low of $132.38 and a twelve month high of $193.05.

UniFirst (NYSE:UNF) last posted its earnings results on Thursday, January 3rd. The textile maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.04). The business had revenue of $438.60 million during the quarter, compared to analysts’ expectations of $433.21 million. UniFirst had a return on equity of 8.69% and a net margin of 9.44%. UniFirst’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 EPS. As a group, equities research analysts expect that UniFirst Corp will post 6.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a $0.1125 dividend. The ex-dividend date is Thursday, March 7th. This represents a $0.45 annualized dividend and a dividend yield of 0.33%. UniFirst’s payout ratio is 6.04%.

UniFirst declared that its board has authorized a stock repurchase program on Thursday, January 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the textile maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of UniFirst by 3.8% in the third quarter. BlackRock Inc. now owns 2,192,209 shares of the textile maker’s stock worth $380,678,000 after purchasing an additional 80,694 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of UniFirst by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,525,600 shares of the textile maker’s stock worth $264,920,000 after purchasing an additional 26,297 shares in the last quarter. Vanguard Group Inc increased its stake in shares of UniFirst by 1.8% in the third quarter. Vanguard Group Inc now owns 1,525,600 shares of the textile maker’s stock worth $264,920,000 after purchasing an additional 26,297 shares in the last quarter. Northern Trust Corp increased its stake in shares of UniFirst by 0.8% in the second quarter. Northern Trust Corp now owns 318,869 shares of the textile maker’s stock worth $56,407,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of UniFirst by 41.2% in the third quarter. Renaissance Technologies LLC now owns 199,705 shares of the textile maker’s stock worth $34,679,000 after purchasing an additional 58,305 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

A number of analysts recently issued reports on UNF shares. Robert W. Baird set a $170.00 price objective on shares of UniFirst and gave the stock a “buy” rating in a report on Thursday, October 18th. Zacks Investment Research downgraded shares of UniFirst from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Finally, ValuEngine downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a report on Friday, January 4th.

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About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.

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