State of New Jersey Common Pension Fund D Cuts Stock Position in UniFirst Co. (NYSE:UNF)

State of New Jersey Common Pension Fund D trimmed its position in shares of UniFirst Co. (NYSE:UNF) by 5.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,559 shares of the textile maker’s stock after selling 633 shares during the period. State of New Jersey Common Pension Fund D’s holdings in UniFirst were worth $2,098,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of UNF. GAMMA Investing LLC increased its position in shares of UniFirst by 60.5% during the third quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock worth $36,000 after purchasing an additional 69 shares in the last quarter. Arizona State Retirement System raised its stake in UniFirst by 1.9% in the second quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock valued at $726,000 after buying an additional 78 shares during the last quarter. Pullen Investment Management LLC raised its stake in UniFirst by 2.9% in the second quarter. Pullen Investment Management LLC now owns 2,806 shares of the textile maker’s stock valued at $481,000 after buying an additional 79 shares during the last quarter. Oak Family Advisors LLC boosted its holdings in UniFirst by 3.3% in the second quarter. Oak Family Advisors LLC now owns 2,915 shares of the textile maker’s stock worth $500,000 after acquiring an additional 93 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of UniFirst by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the textile maker’s stock worth $1,304,000 after acquiring an additional 100 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

UniFirst Price Performance

Shares of UniFirst stock opened at $196.02 on Friday. UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $205.38. The stock has a market cap of $3.65 billion, a PE ratio of 25.23 and a beta of 0.82. The firm has a fifty day moving average price of $190.21 and a 200 day moving average price of $178.53.

UniFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s payout ratio is 16.99%.

Analyst Ratings Changes

A number of brokerages have issued reports on UNF. StockNews.com upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. Robert W. Baird raised their target price on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock 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.