Brandes Investment Partners LP Purchases 3,269 Shares of UniFirst Co. (NYSE:UNF)

Brandes Investment Partners LP boosted its holdings in UniFirst Co. (NYSE:UNF) by 17.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,616 shares of the textile maker’s stock after acquiring an additional 3,269 shares during the quarter. Brandes Investment Partners LP owned 0.12% of UniFirst worth $3,706,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in UNF. Arizona State Retirement System boosted its position in shares of UniFirst by 1.9% during the second quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock valued at $726,000 after buying an additional 78 shares during the last quarter. Pullen Investment Management LLC raised its position in UniFirst by 2.9% in the 2nd quarter. Pullen Investment Management LLC now owns 2,806 shares of the textile maker’s stock worth $481,000 after buying an additional 79 shares during the last quarter. Oak Family Advisors LLC lifted its stake in UniFirst by 3.3% during the 2nd quarter. Oak Family Advisors LLC now owns 2,915 shares of the textile maker’s stock valued at $500,000 after acquiring an additional 93 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of UniFirst by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the textile maker’s stock valued at $1,304,000 after acquiring an additional 100 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of UniFirst by 4.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,211 shares of the textile maker’s stock worth $383,000 after acquiring an additional 102 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 $921,759.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP William Masters Ross sold 225 shares of UniFirst stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $180.67, for a total transaction of $40,650.75. Following the sale, the executive vice president now owns 4,034 shares of the company’s stock, valued at approximately $728,822.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Iandoli sold 682 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 $921,759.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,457 shares of company stock worth $269,413. Company insiders own 0.74% of the company’s stock.

UniFirst Stock Performance

NYSE:UNF opened at $198.65 on Tuesday. The stock has a 50-day simple moving average of $187.37 and a two-hundred day simple moving average of $172.58. The firm has a market capitalization of $3.71 billion, a PE ratio of 29.00 and a beta of 0.81. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $199.67.

UniFirst Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, September 6th. UniFirst’s dividend payout ratio is 19.27%.

Analyst Ratings Changes

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

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.