Entropy Technologies LP Sells 1,600 Shares of UniFirst Co. (NYSE:UNF)

Entropy Technologies LP reduced its position in shares of UniFirst Co. (NYSE:UNF) by 41.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,219 shares of the textile maker’s stock after selling 1,600 shares during the quarter. Entropy Technologies LP’s holdings in UniFirst were worth $441,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in UNF. GAMMA Investing LLC grew its position in shares of UniFirst by 60.5% during the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock worth $36,000 after buying an additional 69 shares during the period. Quarry LP grew its holdings in UniFirst by 1,627.3% during the 2nd quarter. Quarry LP now owns 190 shares of the textile maker’s stock worth $33,000 after acquiring an additional 179 shares during the period. Covestor Ltd raised its position in shares of UniFirst by 69.7% during the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker’s stock valued at $72,000 after acquiring an additional 170 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of UniFirst in the 2nd quarter valued at $92,000. Finally, Eastern Bank bought a new position in shares of UniFirst in the 3rd quarter worth $109,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Trading Down 0.5 %

Shares of UniFirst stock opened at $196.02 on Friday. The stock’s fifty day simple moving average is $190.21 and its 200 day simple moving average is $178.53. The company has a market capitalization of $3.65 billion, a PE ratio of 25.23 and a beta of 0.82. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $205.38.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s dividend payout ratio (DPR) is currently 16.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird upped their price objective on UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. StockNews.com raised UniFirst from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, UniFirst has a consensus rating of “Hold” and a consensus price target of $186.25.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.