Fintel reports that on October 6, 2023, Barclays initiated coverage of Unifirst (NYSE:UNF) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 15.78% Upside
As of October 5, 2023, the average one-year price target for Unifirst is 182.58. The forecasts range from a low of 169.68 to a high of $199.50. The average price target represents an increase of 15.78% from its latest reported closing price of 157.70.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Unifirst is 2,282MM, an increase of 4.80%. The projected annual non-GAAP EPS is 8.13.
Unifirst Declares $0.31 Dividend
On July 11, 2023 the company declared a regular quarterly dividend of $0.31 per share ($1.24 annualized). Shareholders of record as of September 7, 2023 received the payment on September 28, 2023. Previously, the company paid $0.31 per share.
At the current share price of $157.70 / share, the stock's dividend yield is 0.79%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.52%, the lowest has been 0.22%, and the highest has been 0.82%. The standard deviation of yields is 0.16 (n=235).
The current dividend yield is 1.65 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.24%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 525 funds or institutions reporting positions in Unifirst. This is a decrease of 25 owner(s) or 4.55% in the last quarter. Average portfolio weight of all funds dedicated to UNF is 0.16%, a decrease of 10.51%. Total shares owned by institutions decreased in the last three months by 0.33% to 18,245K shares. 
The put/call ratio of UNF is 0.64, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,060K shares representing 5.67% ownership of the company. In it's prior filing, the firm reported owning 1,101K shares, representing a decrease of 3.93%. The firm decreased its portfolio allocation in UNF by 18.04% over the last quarter.
London Co Of Virginia holds 949K shares representing 5.08% ownership of the company. In it's prior filing, the firm reported owning 970K shares, representing a decrease of 2.20%. The firm decreased its portfolio allocation in UNF by 15.72% over the last quarter.
River Road Asset Management holds 887K shares representing 4.74% ownership of the company. In it's prior filing, the firm reported owning 796K shares, representing an increase of 10.18%. The firm decreased its portfolio allocation in UNF by 0.89% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 719K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 750K shares, representing a decrease of 4.36%. The firm decreased its portfolio allocation in UNF by 19.75% over the last quarter.
TMCPX - TOUCHSTONE MID CAP FUND Class Y holds 685K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 702K shares, representing a decrease of 2.51%. The firm decreased its portfolio allocation in UNF by 17.40% over the last quarter.
Unifirst Background Information
(This description is provided by the company.)
Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, as well as the delivery of facility service programs. Together with its subsidiaries, the Company also provides first aid and safety products, and manages specialized garment programs for the cleanroom and nuclear industries. UniFirst manufactures its own branded workwear, protective clothing, and floorcare products; and with 260 service locations, over 300,000 customer locations, and 14,000-plus employee Team Partners, the Company outfits nearly 2 million workers each business day.
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