Eagle Asset Management Inc. Lowers Position in UniFirst Co. (NYSE:UNF)

Eagle Asset Management Inc. decreased its holdings in shares of UniFirst Co. (NYSE:UNF - Free Report) by 19.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,541 shares of the textile maker's stock after selling 8,547 shares during the period. Eagle Asset Management Inc. owned 0.19% of UniFirst worth $6,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of UniFirst by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 229,749 shares of the textile maker's stock worth $45,640,000 after acquiring an additional 8,587 shares in the last quarter. Intech Investment Management LLC grew its holdings in UniFirst by 97.8% in the third quarter. Intech Investment Management LLC now owns 2,860 shares of the textile maker's stock worth $568,000 after purchasing an additional 1,414 shares during the period. Moran Wealth Management LLC increased its stake in shares of UniFirst by 2.1% during the third quarter. Moran Wealth Management LLC now owns 23,533 shares of the textile maker's stock valued at $4,675,000 after purchasing an additional 482 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of 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 purchasing an additional 52 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of UniFirst by 148.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,454 shares of the textile maker's stock worth $1,282,000 after buying an additional 3,860 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

UniFirst Stock Performance

Shares of UNF stock traded up $4.35 during mid-day trading on Monday, hitting $204.58. The company's stock had a trading volume of 89,436 shares, compared to its average volume of 84,301. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $208.20. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 25.77 and a beta of 0.82. The business has a 50-day moving average price of $191.32 and a 200 day moving average price of $179.99.

UniFirst Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued 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 of this dividend is Friday, December 6th. This is an increase from UniFirst's previous quarterly dividend of $0.33. UniFirst's dividend payout ratio (DPR) is presently 16.99%.

Insider Transactions at UniFirst

In other UniFirst news, VP David Martin Katz sold 587 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total value of $113,337.96. Following the transaction, the vice president now directly owns 5,625 shares of the company's stock, valued at approximately $1,086,075. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven S. Sintros sold 3,207 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total transaction of $619,079.28. Following the completion of the transaction, the chief executive officer now owns 22,571 shares in the company, valued at $4,357,105.84. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,294 shares of company stock worth $2,546,632 over the last three months. 0.74% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com upgraded UniFirst from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 20th. Robert W. Baird upped their price target on shares of UniFirst from $199.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, 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.