David Martin Katz Sells 1,299 Shares of UniFirst Co. (NYSE:UNF) Stock

UniFirst Co. (NYSE:UNF) VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $210.95, for a total transaction 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 $1,361,682.25. The trade was a 16.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

UniFirst Stock Performance

NYSE:UNF traded up $4.36 during midday trading on Wednesday, reaching $215.37. 29,515 shares of the stock traded hands, compared to its average volume of 158,780. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $243.70. The stock has a market capitalization of $4.00 billion, a PE ratio of 27.55 and a beta of 0.89. The business has a 50-day moving average of $204.43 and a two-hundred day moving average of $195.37.

UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $604.91 million for the quarter, compared to analyst estimates of $606.60 million. During the same quarter in the prior year, the business posted $2.26 EPS. UniFirst’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts anticipate that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Announces Dividend

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 dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 0.65%. UniFirst’s payout ratio is 17.90%.

Analyst Upgrades and Downgrades

UNF has been the subject of several analyst reports. UBS Group raised their target price on shares of UniFirst from $190.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. StockNews.com lowered shares of UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird raised their target price on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, UniFirst presently has a consensus rating of “Hold” and a consensus target price of $197.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Independence Bank of Kentucky acquired a new position in UniFirst during the 4th quarter valued at approximately $34,000. Blue Trust Inc. increased its stake in shares of UniFirst by 1,105.3% in 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 during the period. Smartleaf Asset Management LLC increased its stake in shares of UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after acquiring an additional 247 shares during the period. Jones Financial Companies Lllp increased its stake in shares of UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock worth $61,000 after acquiring an additional 234 shares during the period. Finally, First Horizon Advisors Inc. increased its stake 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 worth $73,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.