Thrivent Financial for Lutherans Cuts Stock Position in UniFirst Co. (NYSE:UNF)

Thrivent Financial for Lutherans decreased its holdings in shares of UniFirst Co. (NYSE:UNF) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,462 shares of the textile maker’s stock after selling 712 shares during the quarter. Thrivent Financial for Lutherans’ holdings in UniFirst were worth $2,476,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of UniFirst by 60.5% in 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 during the last quarter. Quarry LP grew its position in UniFirst by 1,627.3% in the second quarter. Quarry LP now owns 190 shares of the textile maker’s stock worth $33,000 after acquiring an additional 179 shares in the last quarter. Innealta Capital LLC bought a new stake in UniFirst during the second quarter worth approximately $92,000. Eastern Bank purchased a new stake in UniFirst during the third quarter valued at approximately $109,000. Finally, CIBC Asset Management Inc bought a new stake in shares of UniFirst in the 3rd quarter valued at approximately $202,000. Institutional investors own 78.17% of the company’s stock.

Insider Transactions at UniFirst

In other news, CEO Steven S. Sintros sold 3,207 shares of UniFirst stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Martin Katz sold 587 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total value of $113,337.96. Following the completion of the transaction, the vice president now directly owns 5,625 shares in the company, valued at approximately $1,086,075. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,294 shares of company stock worth $2,546,632. 0.74% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com raised UniFirst from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Robert W. Baird lifted their price objective on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $186.25.

UniFirst Stock Performance

Shares of NYSE UNF opened at $206.22 on Wednesday. UniFirst Co. has a fifty-two week low of $149.58 and a fifty-two week high of $208.20. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 26.55 and a beta of 0.82. The business’s 50 day moving average price is $191.65 and its 200-day moving average price is $180.25.

UniFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. UniFirst’s dividend payout ratio (DPR) is presently 16.99%.

UniFirst 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.