Swiss National Bank Sells 400 Shares of UniFirst Co. (NYSE:UNF)

Swiss National Bank lowered its holdings in shares of UniFirst Co. (NYSE:UNF) by 1.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 29,400 shares of the textile maker’s stock after selling 400 shares during the period. Swiss National Bank’s holdings in UniFirst were worth $5,840,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of UNF. Quarry LP raised its holdings in shares of 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 buying an additional 179 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 in the last quarter. Innealta Capital LLC acquired a new position in shares of UniFirst during the 2nd quarter worth $92,000. Eastern Bank acquired a new position in shares of UniFirst during the 3rd quarter worth $109,000. Finally, CIBC Asset Management Inc acquired a new position in shares of UniFirst during the 3rd quarter worth $202,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling at UniFirst

In other UniFirst news, CEO Steven S. Sintros sold 3,207 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total value of $619,079.28. Following the sale, the chief executive officer now owns 22,571 shares in the company, valued at approximately $4,357,105.84. The trade was a 12.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $190.97, for a total value of $1,814,215.00. Following the completion of the sale, the insider now owns 17,390 shares in the company, valued at $3,320,968.30. This trade represents a 35.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,294 shares of company stock worth $2,546,632. Insiders own 0.74% of the company’s stock.

UniFirst Stock Down 1.6 %

Shares of UNF opened at $202.84 on Thursday. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $208.20. The business has a 50-day simple moving average of $192.00 and a two-hundred day simple moving average of $180.53. The stock has a market cap of $3.77 billion, a PE ratio of 26.11 and a beta of 0.82.

UniFirst Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s payout ratio is 16.99%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com cut UniFirst from a “strong-buy” rating to a “buy” rating in a report on Thursday. Robert W. Baird upped their target price on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, UniFirst has an average rating of “Hold” and an average 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.