Royce Associates Lp Lowers stake in UniFirst Corp (UNF)

UniFirst Corp (UNF) : Royce Associates Lp reduced its stake in UniFirst Corp by 21.25% during the most recent quarter end. The investment management company now holds a total of 1,332,798 shares of UniFirst Corp which is valued at $158,349,730 after selling 359,641 shares in UniFirst Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.UniFirst Corp makes up approximately 0.99% of Royce Associates Lp’s portfolio.

Other Hedge Funds, Including , Blair William Coil reduced its stake in UNF by selling 3,877 shares or 4.4% in the most recent quarter. The Hedge Fund company now holds 84,284 shares of UNF which is valued at $10,013,782. UniFirst Corp makes up approx 0.09% of Blair William Coil’s portfolio.California State Teachers Retirement System boosted its stake in UNF in the latest quarter, The investment management firm added 260 additional shares and now holds a total of 31,799 shares of UniFirst Corp which is valued at $3,735,747. UniFirst Corp makes up approx 0.01% of California State Teachers Retirement System’s portfolio. Vigilant Capital Management added UNF to its portfolio by purchasing 23 company shares during the most recent quarter which is valued at $2,674. Denali Advisors added UNF to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $2,872.

UniFirst Corp opened for trading at $119.4 and hit $120.18 on the upside on Monday, eventually ending the session at $119.92, with a gain of 0.24% or 0.29 points. The heightened volatility saw the trading volume jump to 65,110 shares. Company has a market cap of $2,429 M.

On the company’s financial health, UniFirst Corp reported $1.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $1.34. The company had revenue of $367.80 million for the quarter, compared to analysts expectations of $366.27 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS.

Investors should note that on Jul 6, 2016, UniFirst Corp announced a cash dividend of $0.0375. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on UniFirst Corp. Shares were Downgraded by Robert W. Baird on Jul 1, 2016 to ” Neutral” and Lowered the Price Target to $ 121 from a previous price target of $125 .

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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