Envestnet Portfolio Solutions Inc. Has $723,000 Stock Position in Unifirst Corporation $UNF

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Unifirst Corporation (NYSE:UNF) by 51.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,839 shares of the textile maker’s stock after purchasing an additional 1,311 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Unifirst were worth $723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SageView Advisory Group LLC raised its stake in Unifirst by 4.0% during the 1st quarter. SageView Advisory Group LLC now owns 1,643 shares of the textile maker’s stock worth $286,000 after buying an additional 63 shares during the period. GAMMA Investing LLC raised its position in shares of Unifirst by 59.9% during the first quarter. GAMMA Investing LLC now owns 227 shares of the textile maker’s stock worth $39,000 after purchasing an additional 85 shares during the period. DAVENPORT & Co LLC raised its position in shares of Unifirst by 1.1% during the first quarter. DAVENPORT & Co LLC now owns 7,613 shares of the textile maker’s stock worth $1,325,000 after purchasing an additional 86 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Unifirst by 4.1% in the 1st quarter. Cetera Investment Advisers now owns 2,323 shares of the textile maker’s stock worth $404,000 after purchasing an additional 92 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Unifirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 128 shares during the period. 78.17% of the stock is owned by institutional investors.

Unifirst Trading Up 1.8%

Shares of Unifirst stock opened at $171.30 on Tuesday. The business’s fifty day simple moving average is $170.92 and its 200 day simple moving average is $176.26. Unifirst Corporation has a 12 month low of $156.21 and a 12 month high of $243.70. The firm has a market capitalization of $3.18 billion, a P/E ratio of 21.04 and a beta of 0.86.

Unifirst Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, September 5th. Unifirst’s payout ratio is 17.20%.

Analyst Ratings Changes

A number of research analysts have weighed in on UNF shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Unifirst in a research note on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Unifirst in a research note on Monday, July 14th. They set an “underweight” rating and a $175.00 price target for the company. Barclays set a $152.00 price objective on Unifirst and gave the stock an “underweight” rating in a research note on Monday, June 30th. UBS Group cut their target price on Unifirst from $194.00 to $190.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Robert W. Baird set a $197.00 price target on Unifirst in a report on Monday, June 30th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $178.50.

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.