6 days Ago By ABMN Staff
Alliancebernstein L.P. boosted its position in shares of UniFirst Co.
( NYSE:UNF – Free Report ) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,703 shares of the textile maker’s stock after purchasing an additional 511 shares during the period.
Alliancebernstein L.P. owned 0.
10% of UniFirst worth $3,200,000 at the end of the most recent reporting period. Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in UniFirst in the 4th quarter worth about $31,133,000.
Raymond James Financial Inc. acquired a new stake in shares of UniFirst during the fourth quarter worth approximately $24,576,000. Barclays PLC grew its position in UniFirst by 464.
6% during the third quarter. Barclays PLC now owns 41,220 shares of the textile maker’s stock valued at $8,188,000 after purchasing an additional 33,919 shares in the last quarter. Copeland Capital Management LLC increased its stake in UniFirst by 9.
9% in the 4th quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker’s stock valued at $62,456,000 after buying an additional 32,860 shares during the period. Finally, JPMorgan Chase & Co.
lifted its position in UniFirst by 5.5% in the 4th quarter. JPMorgan Chase & Co.
now owns 387,326 shares of the textile maker’s stock worth $66,268,000 after buying an additional 20,056 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.
UniFirst Stock Performance Shares of NYSE UNF opened at $174.91 on Tuesday. The business’s 50-day simple moving average is $196.
68 and its 200-day simple moving average is $197.00. UniFirst Co.
has a 52 week low of $149.58 and a 52 week high of $243.70.
The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 22.37 and a beta of 0.
88. UniFirst Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a $0.
35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.
40 dividend on an annualized basis and a dividend yield of 0.80%. UniFirst’s payout ratio is presently 17.
41%. UniFirst announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 8th that authorizes the company to repurchase $100.00 million in shares.
This repurchase authorization authorizes the textile maker to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes Several equities analysts have recently commented on UNF shares. Barclays restated an “underweight” rating and set a $152.00 price target (down from $180.
00) on shares of UniFirst in a report on Friday, April 4th. Robert W. Baird reduced their price target on UniFirst from $218.
00 to $197.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. UBS Group increased their price objective on UniFirst from $194.
00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Finally, StockNews.
com cut shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.
com, the company has an average rating of “Hold” and an average target price of $180.00. Get Our Latest Stock Analysis on UNF Insider Activity at UniFirst In other news, VP David Martin Katz sold 1,299 shares of the stock in a transaction that occurred on Tuesday, February 18th.
The stock was sold at an average price of $210.95, for a total value of $274,024.05.
Following the completion of the sale, the vice president now directly owns 6,455 shares of the company’s stock, valued at approximately $1,361,682.25. This represents a 16.
75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . 0.
86% of the stock is owned by corporate insiders. About UniFirst ( Free Report ) 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.
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