Meritage Portfolio Management Lowers stake in UniFirst Corp (UNF)

UniFirst Corp (UNF) : Meritage Portfolio Management reduced its stake in UniFirst Corp by 1.45% during the most recent quarter end. The investment management company now holds a total of 49,447 shares of UniFirst Corp which is valued at $5,509,879 after selling 725 shares in UniFirst Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.UniFirst Corp makes up approximately 0.62% of Meritage Portfolio Management’s portfolio.

UniFirst Corp closed down -2.31 points or -2.06% at $110.04 with 1,90,581 shares getting traded on Wednesday. Post opening the session at $111.66, the shares hit an intraday low of $109.52 and an intraday high of $112.495 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in UNF during the most recent quarter. The investment firm sold 10,100 shares of UNF which is valued $1,125,443.First Quadrant L Pca reduced its stake in UNF by selling 4,365 shares or 10.32% in the most recent quarter. The Hedge Fund company now holds 37,930 shares of UNF which is valued at $4,226,540. UniFirst Corp makes up approx 0.09% of First Quadrant L Pca’s portfolio.Thomson Horstmann Bryant Inc reduced its stake in UNF by selling 5,591 shares or 40.12% in the most recent quarter. The Hedge Fund company now holds 8,344 shares of UNF which is valued at $929,772. UniFirst Corp makes up approx 0.11% of Thomson Horstmann Bryant Inc’s portfolio.Alpha Windward reduced its stake in UNF by selling 300 shares or 7.35% in the most recent quarter. The Hedge Fund company now holds 3,780 shares of UNF which is valued at $417,690. UniFirst Corp makes up approx 0.30% of Alpha Windward’s portfolio.Capstone Asset Management Co reduced its stake in UNF by selling 396 shares or 7.35% in the most recent quarter. The Hedge Fund company now holds 4,990 shares of UNF which is valued at $551,395. UniFirst Corp makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

On the company’s financial health, UniFirst Corp reported $1.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Mar 30, 2016. Analyst had a consensus of $1.26. The company had revenue of $363.10 million for the quarter, compared to analysts expectations of $362.62 million. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

UniFirst Corporation (UniFirst) 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. The Company operates in five reporting segments: US and Canadian Rental and Cleaning Manufacturing (MFG) Specialty Garments Rental and Cleaning (Specialty Garments) First Aid and Corporate. It also rents industrial wiping products floor mats facility service products other non-garment items and provides restroom and cleaning supplies and first aid cabinet services and other safety supplies to a variety of manufacturers retailers and service companies. It serves businesses of all sizes in numerous industry categories.

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