Natixis Advisors LLC Lowers Stock Position in UniFirst Co. (NYSE:UNF)

Natixis Advisors LLC decreased its stake in UniFirst Co. (NYSE:UNF - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,410 shares of the textile maker's stock after selling 1,507 shares during the period. Natixis Advisors LLC owned about 0.77% of UniFirst worth $24,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in UniFirst in the fourth quarter valued at about $34,000. Blue Trust Inc. raised its holdings in 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 during the last quarter. Smartleaf Asset Management LLC boosted its position in UniFirst by 252.0% during the 4th 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 period. Jones Financial Companies Lllp grew its holdings in UniFirst by 187.2% during the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock worth $61,000 after acquiring an additional 234 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in UniFirst by 16.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker's stock worth $73,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Wall Street Analyst Weigh In

UNF has been the subject of a number of recent research reports. StockNews.com downgraded UniFirst from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. UBS Group increased their price target on UniFirst from $190.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, January 9th.

Remove Ads

UniFirst Price Performance

NYSE UNF traded down $3.46 during mid-day trading on Friday, reaching $196.67. 291,922 shares of the stock were exchanged, compared to its average volume of 88,944. The stock has a market cap of $3.65 billion, a P/E ratio of 25.15 and a beta of 0.89. UniFirst Co. has a one year low of $149.58 and a one year high of $243.70. The stock has a 50 day simple moving average of $215.50 and a 200-day simple moving average of $198.77.

UniFirst (NYSE:UNF - Get Free Report) last issued its earnings results on Wednesday, January 8th. The textile maker reported $2.31 EPS for the quarter, beating the consensus estimate of $2.22 by $0.09. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company had revenue of $604.91 million during the quarter, compared to the consensus estimate of $606.60 million. During the same period last year, the business posted $2.26 EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that UniFirst Co. will post 7.71 EPS for the current fiscal year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.40 annualized dividend and a yield of 0.71%. UniFirst's payout ratio is 17.90%.

Insider Buying and Selling at UniFirst

In other news, VP David Martin Katz sold 1,299 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $210.95, for a total value of $274,024.05. Following the completion of the sale, the vice president now directly owns 6,455 shares of the company's stock, valued at $1,361,682.25. This represents a 16.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.86% of the company's stock.

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.