Oliver Luxxe Assets LLC Takes Position in UniFirst Co. (NYSE:UNF)

Oliver Luxxe Assets LLC acquired a new stake in shares of UniFirst Co. (NYSE:UNF) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,958 shares of the textile maker’s stock, valued at approximately $513,000.

A number of other institutional investors also recently added to or reduced their stakes in UNF. Eagle Bay Advisors LLC boosted its position in UniFirst by 78.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. Principal Securities Inc. acquired a new stake in UniFirst in the fourth quarter worth about $80,000. Quest Partners LLC acquired a new stake in UniFirst in the fourth quarter worth about $82,000. Orion Capital Management LLC acquired a new stake in UniFirst in the third quarter worth about $99,000. Finally, SRS Capital Advisors Inc. boosted its holdings in UniFirst by 22.1% in the third quarter. SRS Capital Advisors Inc. now owns 707 shares of the textile maker’s stock worth $115,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

UniFirst Stock Down 0.0 %

Shares of NYSE:UNF opened at $171.49 on Tuesday. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $187.22. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 25.04 and a beta of 0.81. The business has a 50-day moving average price of $161.06 and a 200-day moving average price of $166.89.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, June 7th. UniFirst’s payout ratio is 19.27%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UNF. UBS Group raised their price target on UniFirst from $186.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. StockNews.com raised UniFirst from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Robert W. Baird raised their price target on UniFirst from $185.00 to $199.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their price target on UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, UniFirst currently has a consensus rating of “Hold” and an average price target of $186.00.

Insider Transactions at UniFirst

In other news, major shareholder Cecelia Levenstein sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $155.76, for a total value of $856,680.00. Following the completion of the transaction, the insider now directly owns 68,058 shares in the company, valued at $10,600,714.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Michael A. Croatti sold 1,800 shares of UniFirst stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $169.00, for a total transaction of $304,200.00. Following the completion of the transaction, the vice president now directly owns 5,747 shares in the company, valued at $971,243. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cecelia Levenstein sold 5,500 shares of UniFirst stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $155.76, for a total value of $856,680.00. Following the transaction, the insider now owns 68,058 shares of the company’s stock, valued at $10,600,714.08. The disclosure for this sale can be found here. Insiders sold a total of 28,033 shares of company stock worth $4,398,882 over the last three months. 0.74% of the stock is currently owned by 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.