First Eagle Investment Management Slices Stake in UniFirst Corp (UNF)

First Eagle Investment Management has significantly cut its position in UniFirst Corp (NYSE:UNF) to 221,400 shares, from 750,400 shares owned previously. In a new filing with the Securities and Exchange Commission, First Eagle reported a passive stake, which amasses just around 1.5% of the company’s stock.

UniFirst Corp

First Eagle Investment Management, with an equity portfolio worth $34.43 billion, focuses on Basic Materials, Services, Technology, Financial sectors mainly. The hedge fund held 24.75 million shares worth $1.03 billion in Comcast Corp (NASDAQ:CMCSK). The second top holding of First Eagle was in Microsoft Corp (NASDAQ:MSFT) with 31.13 million shares worth $1.04 billion at the end of the third quarter. This was followed by Cisco Systems Inc (NASDAQ:CSCO) with 39.22 million shares worth $918.53 million.

Earlier in November, the fund tweaked its stake in Alliant Techsystems Inc. (NYSE:ATK), decreasing the holding  to 3.18 million shares from 5.26 million shares.

UniFirst Corp (NYSE:UNF) provides workplace uniforms and protective work wear clothing in the United States, Canada and Europe. The company not only designs and manufacturers but also rents and sells these to manufacturers, retailers and service companies. UniFirst recently posted its results for the first quarter of fiscal 2014, ending November, 2013. Revenues were up by 4.3% on the year to $346.70 million. Net income of $34.46 million was also higher by 12% in comparison with the same period last year.

Among the hedge funds tracked by us, Chuck Royce’s Royce & Associates held 2.17 million shares worth $226.88 million in the company at the end of the third quarter apart from First Eagle. Martin Whitman’s Third Avenue Management also held approximately 428,000 shares worth $44.73 million in the company followed by Jim Simons’ Renaissance Technologies with 127,000 shares worth $13.33 million.

Disclosure: None

Recommended Reading:

Ardsley Partners Increases Holding in World Energy Solutions, Inc. (XWES)

Cadian Capital Picks Up Stake in LogMeIn Inc (LOGM)

Hedge Fund News: Martin Whitman, Michael Platt & Lansdowne Partners

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!