UniFirst Co. (NYSE:UNF) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of UniFirst Co. (NYSE:UNF) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,475 shares of the textile maker’s stock after selling 1,925 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of UniFirst worth $1,733,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of UniFirst during the 4th quarter worth approximately $28,362,000. Envestnet Asset Management Inc. boosted its holdings in shares of UniFirst by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 114,520 shares of the textile maker’s stock valued at $18,668,000 after purchasing an additional 34,279 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of UniFirst by 5.1% in the 4th quarter. Victory Capital Management Inc. now owns 446,335 shares of the textile maker’s stock valued at $81,639,000 after acquiring an additional 21,685 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of UniFirst by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 678,973 shares of the textile maker’s stock valued at $124,193,000 after acquiring an additional 21,115 shares during the period. Finally, Tudor Investment Corp Et Al raised its stake in shares of UniFirst by 62.1% in the 3rd quarter. Tudor Investment Corp Et Al now owns 36,782 shares of the textile maker’s stock valued at $5,996,000 after acquiring an additional 14,087 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at UniFirst

In related news, major shareholder Cecelia Levenstein sold 11,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $158.73, for a total value of $1,746,030.00. Following the transaction, the insider now directly owns 87,558 shares in the company, valued at approximately $13,898,081.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.74% of the stock is currently owned by company insiders.

UniFirst Price Performance

UNF stock opened at $153.35 on Friday. The company’s 50 day simple moving average is $159.99 and its 200-day simple moving average is $167.62. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $187.22. The firm has a market capitalization of $2.86 billion, a P/E ratio of 25.10 and a beta of 0.85.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.19). UniFirst had a net margin of 4.92% and a return on equity of 6.19%. The company had revenue of $590.71 million for the quarter, compared to analysts’ expectations of $587.56 million. Sell-side analysts predict that UniFirst Co. will post 7.48 EPS for the current fiscal year.

UniFirst Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.86%. UniFirst’s dividend payout ratio (DPR) is 21.60%.

Wall Street Analysts Forecast Growth

UNF has been the subject of several research analyst reports. Barclays boosted their target price on shares of UniFirst from $160.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, UBS Group lifted their price target on shares of UniFirst from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $177.75.

UniFirst 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.