Charles Schwab Investment Management Inc. Purchases 7,559 Shares of UniFirst Co. (NYSE:UNF)

Charles Schwab Investment Management Inc. increased its position in UniFirst Co. (NYSE:UNF - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,308 shares of the textile maker's stock after purchasing an additional 7,559 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.28% of UniFirst worth $40,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Independence Bank of Kentucky bought a new position in UniFirst in the 4th quarter valued at approximately $34,000. Blue Trust Inc. raised its stake in shares of UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after purchasing an additional 210 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of UniFirst by 252.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock valued at $59,000 after purchasing an additional 247 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of UniFirst by 187.2% during the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after buying an additional 234 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in UniFirst by 16.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker's stock worth $73,000 after buying an additional 52 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

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Insider Transactions at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,299 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $210.95, for a total transaction of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares of the company's stock, valued at approximately $1,361,682.25. The trade was a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.86% of the stock is currently owned by company insiders.

UniFirst Trading Down 0.3 %

UNF stock traded down $0.56 during trading on Wednesday, reaching $205.55. The stock had a trading volume of 40,021 shares, compared to its average volume of 127,662. The firm has a market cap of $3.82 billion, a PE ratio of 26.24 and a beta of 0.89. The stock's 50 day moving average is $216.01 and its two-hundred day moving average is $198.72. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $243.70.

UniFirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.09. The firm had revenue of $604.91 million for the quarter, compared to analysts' expectations of $606.60 million. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The business's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 EPS. On average, research analysts anticipate that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, March 7th. UniFirst's payout ratio is 17.90%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UNF. UBS Group raised their price target on shares of UniFirst from $190.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, January 9th. StockNews.com cut shares of UniFirst from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th.

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.