UniFirst Corp (NYSE:UNF) declared a quarterly dividend on Thursday, June 28th, RTT News reports. Investors of record on Friday, September 7th will be given a dividend of 0.1125 per share by the textile maker on Friday, September 28th. This represents a $0.45 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, September 6th.

UniFirst has a dividend payout ratio of 7.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect UniFirst to earn $7.48 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 6.0%.

NYSE:UNF traded up $2.50 during mid-day trading on Friday, reaching $186.40. 114,982 shares of the company’s stock were exchanged, compared to its average volume of 51,736. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.46 and a beta of 0.57. UniFirst has a one year low of $142.85 and a one year high of $193.05.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, June 27th. The textile maker reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.02. The firm had revenue of $427.38 million for the quarter, compared to the consensus estimate of $420.45 million. UniFirst had a net margin of 7.45% and a return on equity of 8.21%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. analysts anticipate that UniFirst will post 6.23 EPS for the current fiscal year.

In other news, insider Steven S. Sintros sold 919 shares of UniFirst stock in a transaction on Monday, June 25th. The shares were sold at an average price of $181.75, for a total value of $167,028.25. Following the completion of the sale, the insider now owns 5,690 shares in the company, valued at approximately $1,034,157.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen M. Camilli sold 380 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $184.90, for a total transaction of $70,262.00. Following the sale, the director now owns 2,394 shares of the company’s stock, valued at approximately $442,650.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,028 shares of company stock valued at $2,610,220. Company insiders own 1.00% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of UniFirst from $183.00 to $198.00 and gave the company an “outperform” rating in a research note on Thursday, June 28th. Barrington Research restated a “hold” rating on shares of UniFirst in a research note on Friday, June 29th. Zacks Investment Research downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Finally, ValuEngine downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. UniFirst has a consensus rating of “Hold” and an average price target of $202.00.

UniFirst Company Profile

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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Dividend History for UniFirst (NYSE:UNF)

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