Natixis Advisors LLC Increases Stake in UniFirst Co. (NYSE:UNF)

Natixis Advisors LLC grew its stake in UniFirst Co. (NYSE:UNF - Free Report) by 19.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 144,917 shares of the textile maker's stock after acquiring an additional 24,082 shares during the period. Natixis Advisors LLC owned about 0.78% of UniFirst worth $28,788,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP boosted its stake in shares of UniFirst by 1,627.3% in the 2nd quarter. Quarry LP now owns 190 shares of the textile maker's stock valued at $33,000 after buying an additional 179 shares during the period. GAMMA Investing LLC lifted its position in shares of UniFirst by 60.5% during the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker's stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Covestor Ltd grew its stake in shares of UniFirst by 69.7% during the first quarter. Covestor Ltd now owns 414 shares of the textile maker's stock worth $72,000 after purchasing an additional 170 shares in the last quarter. Innealta Capital LLC purchased a new position in UniFirst in the second quarter valued at $92,000. Finally, Eastern Bank acquired a new stake in UniFirst in the third quarter valued at $109,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Stock Performance

NYSE UNF traded down $2.45 on Tuesday, reaching $192.99. The stock had a trading volume of 30,325 shares, compared to its average volume of 84,469. The stock has a market cap of $3.59 billion, a P/E ratio of 25.15 and a beta of 0.82. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $205.38. The business's 50-day moving average price is $190.54 and its 200 day moving average price is $179.05.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.73%. This is a boost from UniFirst's previous quarterly dividend of $0.33. UniFirst's dividend payout ratio is currently 18.02%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com upgraded UniFirst from a "hold" rating to a "buy" rating in a report on Monday, August 12th. Robert W. Baird raised their price objective on shares of UniFirst from $199.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. 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 stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $186.25.

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.