UniFirst Co. (NYSE:UNF) Position Boosted by HighTower Advisors LLC

HighTower Advisors LLC boosted its holdings in UniFirst Co. (NYSE:UNF) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,069 shares of the textile maker’s stock after acquiring an additional 129 shares during the quarter. HighTower Advisors LLC’s holdings in UniFirst were worth $1,401,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in UNF. Quarry LP increased its holdings in shares of UniFirst by 1,627.3% during the second quarter. Quarry LP now owns 190 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 179 shares during the period. GAMMA Investing LLC grew its position in UniFirst by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. First Horizon Advisors Inc. increased its stake in UniFirst by 16.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after buying an additional 52 shares during the period. Innealta Capital LLC bought a new stake in shares of UniFirst during the 2nd quarter worth about $92,000. Finally, Eastern Bank acquired a new stake in shares of UniFirst in the 3rd quarter worth approximately $109,000. Institutional investors own 78.17% of the company’s stock.

UniFirst Price Performance

Shares of UNF opened at $190.05 on Monday. The firm’s 50 day moving average is $193.27 and its 200-day moving average is $183.59. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $208.20. The stock has a market capitalization of $3.53 billion, a P/E ratio of 24.46 and a beta of 0.84.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.35 dividend. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 0.74%. UniFirst’s payout ratio is 18.02%.

Insider Buying and Selling at UniFirst

In other UniFirst news, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total transaction of $1,814,215.00. Following the sale, the insider now owns 17,390 shares in the company, valued at approximately $3,320,968.30. The trade was a 35.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Martin Katz sold 587 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total transaction of $113,337.96. Following the completion of the transaction, the vice president now owns 5,625 shares of the company’s stock, valued at approximately $1,086,075. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,294 shares of company stock valued at $2,546,632. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

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

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.