David Martin Katz, Govt Vice President of Gross sales and Advertising at UniFirst Corp (NYSE:), has bought shares within the firm totaling $113,337, in keeping with a latest submitting with the Securities and Change Fee. The shares had been bought at a price of $193.08 per share on November 19, 2024.
Along with the sale, Katz additionally engaged in different inventory transactions on the identical day. He acquired shares by a inventory appreciation proper train and different transactions, leading to extra frequent inventory holdings. Some shares had been additionally withheld by UniFirst to cowl tax obligations associated to the vesting of restricted inventory models, with a complete worth of $464,001 at costs starting from $192.67 to $192.83 per share.
These transactions mirror Katz’s ongoing administration of his fairness holdings in UniFirst, an organization specializing in private companies.
In different latest information, UniFirst Company reported document full-year revenues of $2.427 billion, an 8.7% improve from the prior fiscal yr. The corporate’s fourth quarter additionally noticed revenues rise to $639.9 million, an 11.9% improve, whereas internet earnings stood at $44.6 million. Adjusted EBITDA for the quarter additionally surged 32.5% year-over-year to $95 million, attributed to a further week of operations and the acquisition of Clear Uniform.
As well as, UniFirst introduced a rise in its quarterly money dividends for each its Frequent Inventory and Class B Frequent Inventory, reflecting the corporate’s continued monetary development and dedication to delivering shareholder worth. The corporate’s board of administrators authorised the dividend improve, with shareholders set to obtain $0.350 per share on Frequent Inventory and $0.280 per share on Class B Frequent Inventory.
Monetary analysts at Baird adjusted their price goal for UniFirst, rising it barely from $199.00 to $200.00, whereas sustaining a Impartial ranking on the inventory. This adjustment comes after UniFirst’s administration indicated challenges in attaining natural development in fiscal yr 2025, and the corporate’s Adjusted EBITDA steering fell wanting the consensus by roughly $10 million.
Wanting forward, UniFirst tasks its fiscal 2025 income to be between $2.425 billion and $2.445 billion, with EPS starting from $6.79 to $7.19. The corporate’s Core Laundry Operations, which skilled a stable 4.6% natural development for the yr, are anticipated to develop between 1.3% and a couple of.3% in fiscal 2025. Regardless of these projections, UniFirst faces challenges in buyer retention and aggressive pricing, which can affect development.
InvestingPro Insights
To supply extra context to David Martin Katz’s latest inventory transactions, let’s look at some key monetary metrics and insights for UniFirst Corp (NYSE:UNF) from InvestingPro.
UniFirst’s monetary well being seems strong, with InvestingPro Information displaying a market capitalization of $3.64 billion. The corporate’s income for the final twelve months as of This autumn 2024 stood at $2.43 billion, with a notable income development of 8.7% over the identical interval. This development trajectory is additional emphasised by the quarterly income development of 11.89% in This autumn 2024, indicating robust enterprise momentum.
InvestingPro Ideas spotlight that UniFirst holds extra cash than debt on its steadiness sheet, suggesting a stable monetary place. This aligns with the corporate’s capability to keep up and develop its dividend funds. In truth, UniFirst has raised its dividend for 7 consecutive years and has maintained dividend funds for a powerful 42 consecutive years. These elements might contribute to investor confidence and probably clarify why executives like Katz handle their fairness positions over time.
The corporate’s profitability can also be noteworthy, with InvestingPro Ideas confirming that UniFirst has been worthwhile over the past twelve months. That is supported by a gross revenue of $847.6 million and an EBITDA of $324.76 million for the final twelve months as of This autumn 2024.
For buyers searching for extra complete analysis, InvestingPro gives extra suggestions and insights. At the moment, there are 5 extra InvestingPro Ideas accessible for UniFirst, which might present additional depth to understanding the corporate’s monetary panorama and future prospects.
This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.