Swiss National Bank cut its holdings in UniFirst Co. (NYSE:UNF – Get Rating) by 0.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 35,900 shares of the textile maker’s stock after selling 100 shares during the period. Swiss National Bank’s holdings in UniFirst were worth $6,181,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of UNF. Wealth Alliance purchased a new stake in shares of UniFirst in the first quarter valued at $238,000. Envestnet Asset Management Inc. lifted its holdings in shares of UniFirst by 21.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 73,204 shares of the textile maker’s stock worth $13,490,000 after acquiring an additional 12,987 shares during the period. State of Tennessee Treasury Department boosted its position in shares of UniFirst by 10.3% in the first quarter. State of Tennessee Treasury Department now owns 8,332 shares of the textile maker’s stock worth $1,536,000 after acquiring an additional 776 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of UniFirst by 1.8% in the second quarter. Texas Permanent School Fund now owns 10,976 shares of the textile maker’s stock worth $1,890,000 after acquiring an additional 194 shares during the last quarter. Finally, KBC Group NV grew its holdings in UniFirst by 3.8% in the second quarter. KBC Group NV now owns 14,527 shares of the textile maker’s stock valued at $2,501,000 after purchasing an additional 537 shares during the period. 77.84% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at UniFirst
In related news, CEO Steven S. Sintros sold 178 shares of the firm’s stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $180.00, for a total transaction of $32,040.00. Following the sale, the chief executive officer now directly owns 19,984 shares in the company, valued at approximately $3,597,120. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Shane O’connor sold 1,233 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $180.00, for a total transaction of $221,940.00. Following the transaction, the chief financial officer now directly owns 3,901 shares of the company’s stock, valued at $702,180. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven S. Sintros sold 178 shares of the company’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $180.00, for a total transaction of $32,040.00. Following the completion of the transaction, the chief executive officer now owns 19,984 shares of the company’s stock, valued at $3,597,120. The disclosure for this sale can be found here. Insiders sold 2,978 shares of company stock valued at $536,040 over the last quarter. Company insiders own 1.20% of the company’s stock.
UniFirst Stock Performance
UniFirst (NYSE:UNF – Get Rating) last released its quarterly earnings data on Wednesday, October 19th. The textile maker reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. UniFirst had a net margin of 5.17% and a return on equity of 6.77%. The company had revenue of $516.40 million during the quarter, compared to the consensus estimate of $511.58 million. During the same period in the previous year, the firm earned $1.82 earnings per share. UniFirst’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that UniFirst Co. will post 7.24 earnings per share for the current year.
UniFirst Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 7th will be given a $0.31 dividend. The ex-dividend date is Tuesday, December 6th. This is a positive change from UniFirst’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 0.65%. UniFirst’s dividend payout ratio (DPR) is 21.98%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. StockNews.com began coverage on shares of UniFirst in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet cut UniFirst from a “b-” rating to a “c+” rating in a report on Thursday, September 15th.
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.
- Get a free copy of the StockNews.com research report on UniFirst (UNF)
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