Avantax Advisory Services Inc. Grows Stock Holdings in UniFirst Co. (NYSE:UNF)

Avantax Advisory Services Inc. grew its holdings in UniFirst Co. (NYSE:UNF) by 17.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,291 shares of the textile maker’s stock after acquiring an additional 339 shares during the quarter. Avantax Advisory Services Inc.’s holdings in UniFirst were worth $392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in shares of UniFirst during the 4th quarter worth approximately $34,000. Blue Trust Inc. lifted its position in UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of UniFirst by 252.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 247 shares during the period. Jones Financial Companies Lllp lifted its stake in UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock valued at $61,000 after buying an additional 234 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of UniFirst by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 52 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

UniFirst Stock Down 0.4 %

NYSE UNF opened at $196.35 on Tuesday. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $243.70. The firm has a 50-day moving average price of $214.43 and a 200 day moving average price of $199.07. The stock has a market capitalization of $3.65 billion, a P/E ratio of 25.11 and a beta of 0.89.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, January 8th. The textile maker reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.09. The company had revenue of $604.91 million during the quarter, compared to the consensus estimate of $606.60 million. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. UniFirst’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 earnings per share. On average, equities research analysts expect that UniFirst Co. will post 7.71 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The company also recently declared 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, March 7th. UniFirst’s dividend payout ratio is currently 17.90%.

Analysts Set New Price Targets

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

Insider Activity at UniFirst

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

UniFirst Company 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.