Short Interest in UniFirst Co. (NYSE:UNF) Increases By 15.3%

UniFirst Co. (NYSE:UNF) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 166,100 shares, an increase of 15.3% from the January 15th total of 144,100 shares. Based on an average trading volume of 115,700 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.1% of the company’s shares are sold short.

Insider Activity

In other news, CEO Steven S. Sintros sold 3,207 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the transaction, the chief executive officer now owns 22,571 shares of the company’s stock, valued at approximately $4,357,105.84. The trade was a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Martin Katz sold 587 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total transaction of $113,337.96. Following the transaction, the vice president now directly owns 5,625 shares in the company, valued at approximately $1,086,075. The trade was a 9.45 % 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 valued at $2,546,632. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UniFirst

Several hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its stake in UniFirst by 53.6% in the fourth quarter. Deutsche Bank AG now owns 13,169 shares of the textile maker’s stock valued at $2,253,000 after purchasing an additional 4,593 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of UniFirst in the fourth quarter valued at approximately $1,428,000. Cetera Investment Advisers boosted its holdings in shares of UniFirst by 3.1% in the fourth quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker’s stock valued at $382,000 after acquiring an additional 68 shares during the period. Algert Global LLC boosted its holdings in shares of UniFirst by 27.7% in the fourth quarter. Algert Global LLC now owns 1,943 shares of the textile maker’s stock valued at $332,000 after acquiring an additional 422 shares during the period. Finally, Gallagher Fiduciary Advisors LLC boosted its holdings in shares of UniFirst by 17.1% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,625 shares of the textile maker’s stock valued at $449,000 after acquiring an additional 384 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group upped their target price on shares of UniFirst from $190.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, January 9th. StockNews.com cut shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Robert W. Baird upped their target price on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $197.50.

UniFirst Stock Down 1.3 %

NYSE:UNF traded down $2.71 on Monday, reaching $213.50. 72,135 shares of the company’s stock were exchanged, compared to its average volume of 125,689. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 27.30 and a beta of 0.89. The business has a fifty day moving average of $203.72 and a 200-day moving average of $195.06. UniFirst has a 52-week low of $149.58 and a 52-week high of $243.70.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The firm had revenue of $604.91 million for the quarter, compared to analyst estimates of $606.60 million. During the same period in the prior year, the firm earned $2.26 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that UniFirst will post 7.63 earnings per share for the current year.

UniFirst Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.40 annualized dividend and a yield of 0.66%. UniFirst’s dividend payout ratio is currently 17.90%.

UniFirst Company Profile

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.