Moran Wealth Management LLC Raises Stock Position in UniFirst Co. (NYSE:UNF)

Moran Wealth Management LLC raised its stake in shares of UniFirst Co. (NYSE:UNF) by 2.1% in the third quarter, Holdings Channel.com reports. The fund owned 23,533 shares of the textile maker’s stock after purchasing an additional 482 shares during the period. Moran Wealth Management LLC’s holdings in UniFirst were worth $4,675,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of UniFirst by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,695,590 shares of the textile maker’s stock valued at $294,066,000 after purchasing an additional 4,650 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in UniFirst by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,003 shares of the textile maker’s stock worth $126,418,000 after acquiring an additional 23,069 shares in the last quarter. Victory Capital Management Inc. grew its holdings in UniFirst by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 654,495 shares of the textile maker’s stock worth $130,015,000 after acquiring an additional 32,447 shares in the last quarter. Copeland Capital Management LLC grew its holdings in UniFirst by 12.4% during the 3rd quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock worth $65,989,000 after acquiring an additional 36,651 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in UniFirst by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock worth $29,729,000 after acquiring an additional 35,604 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Price Performance

UNF stock opened at $191.63 on Thursday. The company has a fifty day moving average price of $190.90 and a 200 day moving average price of $179.37. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $205.38. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 24.66 and a beta of 0.82.

UniFirst Increases Dividend

The company also recently disclosed 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 boost from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, December 6th. UniFirst’s payout ratio is currently 16.99%.

Analyst Ratings Changes

Several research analysts have commented on UNF shares. Robert W. Baird boosted their price target on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of UniFirst from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $186.25.

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.