Victory Capital Management Inc. Sells 12,679 Shares of UniFirst Co. (NYSE:UNF)

Victory Capital Management Inc. reduced its holdings in shares of UniFirst Co. (NYSE:UNF) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 641,816 shares of the textile maker’s stock after selling 12,679 shares during the quarter. Victory Capital Management Inc. owned 3.46% of UniFirst worth $109,808,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Independence Bank of Kentucky acquired a new position in UniFirst in the 4th quarter worth about $34,000. Blue Trust Inc. increased its holdings 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 increased its holdings 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 increased 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 worth $61,000 after purchasing an additional 234 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in UniFirst by 16.5% in 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 currently owned by institutional investors.

Analysts Set New Price Targets

UNF has been the subject of a number of recent research reports. UBS Group upped their target price on UniFirst from $190.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. StockNews.com cut UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th.

UniFirst Trading Up 1.7 %

Shares of UNF stock opened at $210.52 on Thursday. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 26.92 and a beta of 0.89. The stock has a 50-day moving average of $209.87 and a 200-day moving average of $197.37. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $243.70.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. The business had revenue of $604.91 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $2.26 earnings per share. Sell-side analysts forecast that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.40 annualized dividend and a yield of 0.67%. UniFirst’s payout ratio is 17.90%.

Insider Activity at UniFirst

In related news, VP David Martin Katz sold 1,299 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the transaction, the vice president now owns 6,455 shares in the company, valued at $1,361,682.25. The trade was a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is owned by company insiders.

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.