UniFirst Co. (NYSE:UNF) Shares Purchased by Citigroup Inc.

Citigroup Inc. boosted its position in UniFirst Co. (NYSE:UNF) by 81.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,031 shares of the textile maker’s stock after purchasing an additional 9,918 shares during the quarter. Citigroup Inc. owned about 0.12% of UniFirst worth $4,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in UNF. Dimensional Fund Advisors LP increased its stake in shares of UniFirst by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,003 shares of the textile maker’s stock valued at $126,418,000 after acquiring an additional 23,069 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of UniFirst by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 654,495 shares of the textile maker’s stock valued at $130,015,000 after acquiring an additional 32,447 shares during the last quarter. Copeland Capital Management LLC increased its stake in shares of UniFirst by 12.4% during the 3rd quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock valued at $65,989,000 after acquiring an additional 36,651 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of UniFirst by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 229,749 shares of the textile maker’s stock valued at $45,640,000 after acquiring an additional 8,587 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of UniFirst by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock valued at $29,729,000 after acquiring an additional 35,604 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Price Performance

Shares of NYSE UNF opened at $199.89 on Wednesday. The firm has a market capitalization of $3.71 billion, a PE ratio of 25.69 and a beta of 0.84. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $208.20. The business’s fifty day moving average price is $193.05 and its two-hundred day moving average price is $181.55.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, December 6th. UniFirst’s dividend payout ratio (DPR) is 16.99%.

Insider Activity at UniFirst

In related news, CEO Steven S. Sintros sold 3,207 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total value of $619,079.28. Following the completion of the transaction, the chief executive officer now owns 22,571 shares in the company, valued at $4,357,105.84. This trade represents a 12.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $190.97, for a total value of $1,814,215.00. Following the completion of the transaction, the insider now owns 17,390 shares of the company’s stock, valued at $3,320,968.30. This trade represents a 35.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,294 shares of company stock valued at $2,546,632 over the last 90 days. 0.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 28th. Robert W. Baird increased their target price on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $186.25.

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.