XTX Topco Ltd Makes New $248,000 Investment in UniFirst Co. (NYSE:UNF)

XTX Topco Ltd purchased a new stake in shares of UniFirst Co. (NYSE:UNF - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,451 shares of the textile maker's stock, valued at approximately $248,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in UniFirst by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,708,242 shares of the textile maker's stock valued at $292,263,000 after buying an additional 6,393 shares during the period. JPMorgan Chase & Co. grew its position in shares of UniFirst by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 387,326 shares of the textile maker's stock valued at $66,268,000 after acquiring an additional 20,056 shares during the period. Copeland Capital Management LLC grew its position in shares of UniFirst by 9.9% during the 4th quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker's stock valued at $62,456,000 after acquiring an additional 32,860 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of UniFirst by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,308 shares of the textile maker's stock worth $40,601,000 after purchasing an additional 7,559 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in UniFirst by 9.2% in the 4th 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 during the period. Institutional investors own 78.17% of the company's stock.

Insider Activity

In other news, VP David Martin Katz sold 1,299 shares of the business'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 sale, the vice president now directly owns 6,455 shares in the company, valued at $1,361,682.25. The trade was a 16.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.86% of the company's stock.

UniFirst Trading Up 0.6 %

Shares of UNF opened at $177.52 on Friday. The business's 50 day moving average is $188.85 and its 200 day moving average is $195.72. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $243.70. The company has a market capitalization of $3.30 billion, a PE ratio of 22.70 and a beta of 0.88.

UniFirst (NYSE:UNF - Get Free Report) last released its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The company had revenue of $602.20 million for the quarter, compared to the consensus estimate of $602.81 million. During the same quarter in the previous year, the business earned $1.09 EPS. The company's quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the textile maker to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.79%. UniFirst's dividend payout ratio (DPR) is 17.41%.

Wall Street Analyst Weigh In

A number of analysts have commented on UNF shares. UBS Group upped their price target on UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. StockNews.com lowered shares of UniFirst from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Barclays restated an "underweight" rating and set a $152.00 target price (down previously from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Finally, Robert W. Baird dropped their price target on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $180.00.

UniFirst Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.