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

UniFirst Co. (NYSE:UNF) VP David Martin Katz sold 1,299 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were 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. This represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

UniFirst Price Performance

NYSE:UNF opened at $215.14 on Thursday. The firm’s fifty day moving average price is $204.82 and its two-hundred day moving average price is $195.51. The company has a market cap of $4.00 billion, a P/E ratio of 27.51 and a beta of 0.89. UniFirst Co. has a one year low of $149.58 and a one year high of $243.70.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, January 8th. The textile maker reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.09. The business had revenue of $604.91 million for the quarter, compared to analyst estimates of $606.60 million. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. UniFirst’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 EPS. As a group, equities research analysts expect that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.40 annualized dividend and a yield of 0.65%. UniFirst’s payout ratio is currently 17.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNF. Independence Bank of Kentucky acquired a new stake in shares of UniFirst during the fourth quarter worth $34,000. Blue Trust Inc. raised its stake in UniFirst by 1,105.3% in the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock worth $39,000 after purchasing an additional 210 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in UniFirst by 252.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after purchasing an additional 247 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in UniFirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock valued at $61,000 after purchasing an additional 234 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of UniFirst by 16.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock worth $73,000 after purchasing an additional 52 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Robert W. Baird lifted their price target on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, UBS Group boosted their price target on UniFirst from $190.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $197.50.

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.