UniFirst Co. (NYSE:UNF) Stock Position Decreased by River Road Asset Management LLC

River Road Asset Management LLC reduced its position in shares of UniFirst Co. (NYSE:UNF - Free Report) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,426 shares of the textile maker's stock after selling 6,565 shares during the period. UniFirst makes up 2.2% of River Road Asset Management LLC's portfolio, making the stock its 5th biggest holding. River Road Asset Management LLC owned about 4.60% of UniFirst worth $169,930,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in UNF. QRG Capital Management Inc. increased its position in shares of UniFirst by 20.1% in the third quarter. QRG Capital Management Inc. now owns 3,221 shares of the textile maker's stock worth $640,000 after purchasing an additional 540 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in UniFirst by 164.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,387 shares of the textile maker's stock worth $1,666,000 after buying an additional 5,213 shares in the last quarter. New York State Teachers Retirement System grew its stake in UniFirst by 6.7% in the 3rd quarter. New York State Teachers Retirement System now owns 21,553 shares of the textile maker's stock worth $4,282,000 after buying an additional 1,362 shares in the last quarter. Pullen Investment Management LLC raised its position in shares of UniFirst by 13.9% during the 3rd quarter. Pullen Investment Management LLC now owns 3,195 shares of the textile maker's stock valued at $635,000 after buying an additional 389 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of UniFirst by 16.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,677 shares of the textile maker's stock valued at $333,000 after buying an additional 239 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

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

UniFirst Stock Performance

UNF stock traded up $2.23 on Tuesday, reaching $181.76. The company's stock had a trading volume of 70,216 shares, compared to its average volume of 85,390. The business has a fifty day simple moving average of $188.47 and a two-hundred day simple moving average of $176.59. The firm has a market cap of $3.38 billion, a PE ratio of 23.11 and a beta of 0.82. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $200.07.

UniFirst Increases Dividend

The company 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.77%. This is a boost from UniFirst's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, December 6th. UniFirst's dividend payout ratio is presently 16.99%.

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.