UniFirst Shares Reach 52‑Week High as Investors Add Stakes

UniFirst Corporation (NYSE:UNF) climbed to a 52‑week high of $297.67 during mid‑day trading on Monday, closing at $295.13. The textile‑service firm reported third‑quarter earnings of $1.09 per share, missing consensus estimates of $1.93, while revenue rose 3.9% to $634.4 million. The company announced a quarterly dividend of $0.365 per share (annualized $1.46, yield 0.5%) payable on September 25.

Institutional investors continued to add to their positions. Absolute Gestao de Investimentos Ltda. bought 57,950 shares for about $14.58 million, representing 0.32% of UniFirst and 1.7% of its portfolio. Other holders such as River Road Asset Management, Dimensional Fund Advisors, Engine Capital Management, First Trust Advisors and Brandes Investment Partners also increased stakes during the fourth quarter. Analysts have a Hold rating on the stock with a median price target of $262.