BNP Paribas Financial Markets Has $1.04 Million Stock Position in UniFirst Co. (NYSE:UNF)

BNP Paribas Financial Markets lowered its stake in shares of UniFirst Co. (NYSE:UNF - Free Report) by 57.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,221 shares of the textile maker's stock after selling 7,155 shares during the quarter. BNP Paribas Financial Markets' holdings in UniFirst were worth $1,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in UniFirst during the 3rd quarter worth $10,270,000. Victory Capital Management Inc. boosted its position in UniFirst by 8.9% during the 2nd quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker's stock worth $106,700,000 after acquiring an additional 51,088 shares during the period. Copeland Capital Management LLC boosted its position in UniFirst by 12.4% during the 3rd quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker's stock worth $65,989,000 after acquiring an additional 36,651 shares during the period. American Century Companies Inc. boosted its position in UniFirst by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker's stock worth $29,729,000 after acquiring an additional 35,604 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in UniFirst by 305.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 41,936 shares of the textile maker's stock worth $7,193,000 after acquiring an additional 31,583 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Transactions at UniFirst

In related news, CEO Steven S. Sintros sold 3,207 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total value of $619,079.28. Following the completion of the sale, the chief executive officer now directly owns 22,571 shares of the company's stock, valued at approximately $4,357,105.84. This represents a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder The Ronald D. Croatti Trust - 1 sold 9,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total value of $1,814,215.00. Following the completion of the sale, the insider now directly owns 17,390 shares of the company's stock, valued at approximately $3,320,968.30. This represents a 35.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,294 shares of company stock valued at $2,546,632 over the last three months. Company insiders own 0.74% of the company's stock.

UniFirst Trading Up 0.8 %

Shares of UniFirst stock traded up $1.56 on Wednesday, reaching $196.04. 58,713 shares of the company were exchanged, compared to its average volume of 83,916. The stock has a fifty day moving average price of $193.56 and a 200-day moving average price of $182.92. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 25.03 and a beta of 0.84. UniFirst Co. has a fifty-two week low of $149.58 and a fifty-two week high of $208.20.

UniFirst Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This is a positive change from UniFirst's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.71%. UniFirst's payout ratio is 18.02%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UNF shares. Robert W. Baird upped their price objective on UniFirst from $199.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. StockNews.com lowered UniFirst from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $186.25.

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.