UniFirst Co. (NYSE:UNF) VP Sells $274,024.05 in Stock

UniFirst Co. (NYSE:UNF) VP David Martin Katz sold 1,299 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the completion of the transaction, the vice president now directly owns 6,455 shares of the company’s stock, valued at approximately $1,361,682.25. This trade represents a 16.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

UniFirst Trading Up 2.0 %

UNF opened at $215.14 on Thursday. The company’s 50 day moving average is $204.82 and its 200-day moving average is $195.51. The company has a market cap of $4.00 billion, a P/E ratio of 27.51 and a beta of 0.89. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $243.70.

UniFirst (NYSE:UNF) last posted 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 analysts’ expectations of $606.60 million. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.35 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.40 annualized dividend and a yield of 0.65%. UniFirst’s dividend payout ratio is presently 17.90%.

Institutional Trading of UniFirst

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Independence Bank of Kentucky acquired a new stake in UniFirst during the 4th quarter valued at approximately $34,000. Blue Trust Inc. increased its position in shares of UniFirst by 1,105.3% during the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock worth $39,000 after acquiring an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in UniFirst by 252.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after purchasing an additional 247 shares in the last quarter. Jones Financial Companies Lllp raised its position in UniFirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock valued at $61,000 after buying an additional 234 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of UniFirst by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 52 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on UNF shares. UBS Group boosted 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. Robert W. Baird boosted their price objective 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. Finally, StockNews.com cut UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UniFirst has a consensus rating of “Hold” and an average price target of $197.50.

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.