UniFirst Co. (NYSE:UNF) VP David Martin Katz Sells 1,299 Shares

UniFirst Co. (NYSE:UNF - Get Free Report) VP David Martin Katz sold 1,299 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the sale, the vice president now directly owns 6,455 shares of the company's stock, valued at approximately $1,361,682.25. This represents a 16.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

UniFirst Trading Down 1.8 %

NYSE UNF traded down $3.82 during trading on Friday, reaching $209.91. 69,099 shares of the company's stock were exchanged, compared to its average volume of 154,624. The firm has a market capitalization of $3.90 billion, a PE ratio of 26.84 and a beta of 0.89. UniFirst Co. has a fifty-two week low of $149.58 and a fifty-two week high of $243.70. The company's fifty day simple moving average is $205.64 and its 200-day simple moving average is $195.82.

UniFirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 8th. The textile maker reported $2.31 EPS for the quarter, topping the consensus estimate of $2.22 by $0.09. The business had revenue of $604.91 million during 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 firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $2.26 earnings per share. Equities analysts forecast that UniFirst Co. will post 7.71 EPS for the current fiscal year.

UniFirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, March 7th. UniFirst's dividend payout ratio (DPR) is presently 17.90%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group upped their price objective on shares of UniFirst from $190.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, January 9th. Robert W. Baird boosted their price target on shares of UniFirst from $199.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of UniFirst from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, UniFirst currently has an average rating of "Hold" and a consensus target price of $197.50.

Institutional Trading of UniFirst

Hedge funds and other institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in UniFirst in the 4th quarter worth about $34,000. Blue Trust Inc. grew its stake in shares of UniFirst by 1,105.3% in the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock valued at $39,000 after buying an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock worth $59,000 after buying an additional 247 shares during the last quarter. Jones Financial Companies Lllp raised its position in 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 acquiring an additional 234 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in UniFirst by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker's stock valued at $73,000 after acquiring an additional 52 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

UniFirst Company 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.