EntryPoint Capital LLC Invests $258,000 in UniFirst Co. (NYSE:UNF)

EntryPoint Capital LLC acquired a new stake in UniFirst Co. (NYSE:UNF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,508 shares of the textile maker's stock, valued at approximately $258,000.

A number of other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of UniFirst during the 4th quarter worth $24,576,000. Barclays PLC raised its stake in shares of UniFirst by 464.6% during the third quarter. Barclays PLC now owns 41,220 shares of the textile maker's stock worth $8,188,000 after purchasing an additional 33,919 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in UniFirst by 9.9% in the 4th quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker's stock valued at $62,456,000 after purchasing an additional 32,860 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of UniFirst by 173.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 47,968 shares of the textile maker's stock valued at $9,529,000 after purchasing an additional 30,458 shares during the period. Finally, American Century Companies Inc. boosted its position in UniFirst by 9.2% during the fourth quarter. American Century Companies Inc. now owns 189,235 shares of the textile maker's stock worth $32,376,000 after purchasing an additional 16,022 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

UniFirst Stock Down 0.1 %

Shares of UniFirst stock traded down $0.11 on Monday, hitting $173.79. 174,775 shares of the company traded hands, compared to its average volume of 97,671. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $243.70. The company has a 50-day moving average price of $210.10 and a 200 day moving average price of $198.81. The company has a market cap of $3.23 billion, a PE ratio of 22.22 and a beta of 0.89.

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UniFirst (NYSE:UNF - Get Free Report) last posted its earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.09. The firm had revenue of $604.91 million during the quarter, compared to analyst estimates of $606.60 million. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. Equities research analysts anticipate that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.35 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 0.81%. UniFirst's dividend payout ratio is currently 17.90%.

Analysts Set New Price Targets

Several analysts have commented on the company. StockNews.com cut UniFirst from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. UBS Group lowered their price objective on UniFirst from $235.00 to $194.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th.

Insider Buying and Selling at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,299 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares in the company, valued at approximately $1,361,682.25. This trade represents a 16.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.86% of the company's stock.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It 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.