MQS Management LLC Has $375,000 Stock Holdings in UniFirst Co. (NYSE:UNF)

MQS Management LLC lifted its stake in shares of UniFirst Co. (NYSE:UNF) by 25.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,188 shares of the textile maker’s stock after purchasing an additional 447 shares during the quarter. MQS Management LLC’s holdings in UniFirst were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of UNF. Covestor Ltd lifted its position in UniFirst by 69.7% during the first quarter. Covestor Ltd now owns 414 shares of the textile maker’s stock worth $72,000 after purchasing an additional 170 shares during the period. Principal Securities Inc. bought a new stake in shares of UniFirst during the 4th quarter worth approximately $80,000. Quest Partners LLC acquired a new stake in shares of UniFirst during the 4th quarter worth approximately $82,000. Innealta Capital LLC acquired a new stake in shares of UniFirst during the 2nd quarter worth approximately $92,000. Finally, EntryPoint Capital LLC bought a new position in UniFirst in the first quarter valued at approximately $166,000. Institutional investors own 78.17% of the company’s stock.

UniFirst Stock Performance

Shares of NYSE:UNF opened at $189.75 on Friday. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $197.88. The company has a market capitalization of $3.54 billion, a PE ratio of 27.70 and a beta of 0.81. The company has a fifty day moving average of $185.53 and a 200-day moving average of $171.37.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, June 26th. The textile maker reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.31. The business had revenue of $603.33 million during the quarter, compared to analysts’ expectations of $600.97 million. UniFirst had a return on equity of 6.93% and a net margin of 5.44%. On average, equities analysts forecast that UniFirst Co. will post 7.83 EPS for the current fiscal year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.33 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 0.70%. UniFirst’s dividend payout ratio (DPR) is presently 19.27%.

Insider Buying and Selling

In other UniFirst news, Director Michael Iandoli sold 682 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $194.30, for a total value of $132,512.60. Following the completion of the transaction, the director now directly owns 4,744 shares in the company, valued at approximately $921,759.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other UniFirst news, Director Michael Iandoli sold 682 shares of UniFirst stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $194.30, for a total transaction of $132,512.60. Following the transaction, the director now directly owns 4,744 shares of the company’s stock, valued at approximately $921,759.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Croatti sold 1,800 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $169.00, for a total value of $304,200.00. Following the completion of the sale, the vice president now directly owns 5,747 shares of the company’s stock, valued at approximately $971,243. The disclosure for this sale can be found here. Insiders have sold a total of 3,257 shares of company stock worth $573,613 in the last ninety days. Company insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on UNF shares. Robert W. Baird upped their target price on UniFirst from $185.00 to $199.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. UBS Group upped their price objective on UniFirst from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. lifted their target price on UniFirst from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, June 27th. Finally, StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, UniFirst has an average rating of “Hold” and a consensus price target of $186.00.

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.