Tweedy Browne Co Lowers stake in UniFirst Corp (UNF)

UniFirst Corp (UNF) : Tweedy Browne Co reduced its stake in UniFirst Corp by 0.58% during the most recent quarter end. The investment management company now holds a total of 187,151 shares of UniFirst Corp which is valued at $22,388,874 after selling 1,090 shares in UniFirst Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.UniFirst Corp makes up approximately 0.61% of Tweedy Browne Co’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors boosted its stake in UNF in the latest quarter, The investment management firm added 43,001 additional shares and now holds a total of 994,223 shares of UniFirst Corp which is valued at $118,938,897. UniFirst Corp makes up approx 0.03% of Blackrock Fund Advisors’s portfolio. Amica Retiree Medical Trust sold out all of its stake in UNF during the most recent quarter. The investment firm sold 334 shares of UNF which is valued $39,238. National Investment Services Inc Wi sold out all of its stake in UNF during the most recent quarter. The investment firm sold 16,120 shares of UNF which is valued $1,873,789.Huntington National Bank reduced its stake in UNF by selling 322 shares or 18.44% in the most recent quarter. The Hedge Fund company now holds 1,424 shares of UNF which is valued at $165,526.First Quadrant L Pca reduced its stake in UNF by selling 980 shares or 2.58% in the most recent quarter. The Hedge Fund company now holds 36,950 shares of UNF which is valued at $4,295,068. UniFirst Corp makes up approx 0.09% of First Quadrant L Pca’s portfolio.

UniFirst Corp closed down -0.36 points or -0.29% at $125.65 with 1,02,810 shares getting traded on Friday. Post opening the session at $125.91, the shares hit an intraday low of $125.0408 and an intraday high of $125.96 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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