UniFirst Co. (NYSE:UNF) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of UniFirst Co. (NYSE:UNFGet Rating) by 21.6% in the first quarter, Holdings Channel.com reports. The fund owned 73,204 shares of the textile maker’s stock after purchasing an additional 12,987 shares during the period. Envestnet Asset Management Inc.’s holdings in UniFirst were worth $13,490,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of UniFirst by 49.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 780,733 shares of the textile maker’s stock valued at $164,267,000 after purchasing an additional 259,468 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of UniFirst by 17.7% in the fourth quarter. JPMorgan Chase & Co. now owns 462,772 shares of the textile maker’s stock valued at $97,367,000 after purchasing an additional 69,604 shares in the last quarter. State Street Corp grew its holdings in shares of UniFirst by 7.5% in the fourth quarter. State Street Corp now owns 524,285 shares of the textile maker’s stock valued at $110,446,000 after purchasing an additional 36,388 shares in the last quarter. Atlanta Capital Management Co. L L C grew its holdings in shares of UniFirst by 13.7% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 262,112 shares of the textile maker’s stock valued at $55,148,000 after purchasing an additional 31,482 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of UniFirst in the fourth quarter valued at approximately $4,749,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at UniFirst

In other news, VP David Martin Katz sold 1,265 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $195.00, for a total transaction of $246,675.00. Following the completion of the sale, the vice president now owns 3,713 shares in the company, valued at approximately $724,035. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UNF shares. StockNews.com cut shares of UniFirst from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. Robert W. Baird decreased their price target on shares of UniFirst from $213.00 to $195.00 in a research note on Wednesday, May 18th.

UniFirst Stock Up 0.0 %

Shares of UniFirst stock opened at $192.41 on Friday. UniFirst Co. has a 52-week low of $154.72 and a 52-week high of $232.75. The company has a 50 day moving average of $174.49 and a 200 day moving average of $175.55. The company has a market capitalization of $3.60 billion, a P/E ratio of 32.67 and a beta of 0.93.

UniFirst (NYSE:UNFGet Rating) last issued its quarterly earnings results on Wednesday, June 29th. The textile maker reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.16). UniFirst had a return on equity of 6.86% and a net margin of 5.74%. The firm had revenue of $511.50 million during the quarter, compared to analysts’ expectations of $500.61 million. During the same quarter in the prior year, the firm earned $2.21 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that UniFirst Co. will post 6.76 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $1.20 annualized dividend and a dividend yield of 0.62%. UniFirst’s dividend payout ratio is presently 20.37%.

About UniFirst

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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.

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Institutional Ownership by Quarter for UniFirst (NYSE:UNF)

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