Fuller & Thaler Asset Management Inc. Reduces Stake in UniFirst Co. (NYSE:UNF)

Fuller & Thaler Asset Management Inc. reduced its stake in UniFirst Co. (NYSE:UNF - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 271,851 shares of the textile maker's stock after selling 1,574 shares during the period. Fuller & Thaler Asset Management Inc. owned 1.46% of UniFirst worth $46,511,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in UNF. Independence Bank of Kentucky bought a new stake in UniFirst in the 4th quarter valued at about $34,000. Blue Trust Inc. increased its holdings in shares of UniFirst by 1,105.3% during the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock valued at $39,000 after acquiring an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased 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 acquiring an additional 247 shares in the last quarter. Jones Financial Companies Lllp raised 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 worth $61,000 after purchasing an additional 234 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of UniFirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock worth $81,000 after purchasing an additional 422 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UNF shares. Robert W. Baird decreased their price target on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. StockNews.com downgraded shares of UniFirst from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. UBS Group raised their price target on shares of UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Barclays reissued an "underweight" rating and set a $152.00 price objective (down from $180.00) on shares of UniFirst in a report on Friday, April 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $180.00.

UniFirst Price Performance

Shares of NYSE UNF traded up $1.07 during trading on Friday, hitting $177.52. The stock had a trading volume of 68,148 shares, compared to its average volume of 103,043. The firm has a fifty day moving average of $188.85 and a two-hundred day moving average of $195.72. The company has a market capitalization of $3.30 billion, a PE ratio of 22.70 and a beta of 0.88. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $243.70.

UniFirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The firm had revenue of $602.20 million during the quarter, compared to the consensus estimate of $602.81 million. During the same period in the previous year, the company posted $1.09 earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts expect that UniFirst Co. will post 7.71 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 0.79%. UniFirst's payout ratio is currently 17.41%.

UniFirst announced that its board has initiated a stock repurchase plan on Tuesday, April 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the textile maker to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related 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 value of $274,024.05. Following the sale, the vice president now directly owns 6,455 shares in the company, valued at approximately $1,361,682.25. The trade was a 16.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

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.