Raymond James Financial Inc. Takes Position in UniFirst Co. (NYSE:UNF)

Raymond James Financial Inc. purchased a new stake in UniFirst Co. (NYSE:UNF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 143,639 shares of the textile maker's stock, valued at approximately $24,576,000. Raymond James Financial Inc. owned about 0.77% of UniFirst as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Independence Bank of Kentucky acquired a new position in UniFirst in the 4th quarter worth about $34,000. Blue Trust Inc. boosted its holdings in shares of UniFirst by 1,105.3% during the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after purchasing an additional 210 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in UniFirst by 252.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock valued at $59,000 after buying an additional 247 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after purchasing an additional 234 shares during the period. Finally, First Horizon Advisors Inc. grew its stake 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 valued at $73,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Remove Ads

Insider Activity

In related news, VP David Martin Katz sold 1,299 shares of the firm's 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 sale, the vice president now directly owns 6,455 shares in the company, valued at $1,361,682.25. This trade represents a 16.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.86% of the company's stock.

UniFirst Stock Performance

UniFirst stock traded down $1.61 during midday trading on Wednesday, reaching $204.50. The stock had a trading volume of 55,501 shares, compared to its average volume of 127,723. The stock's 50-day simple moving average is $216.01 and its 200 day simple moving average is $198.72. UniFirst Co. has a twelve month low of $149.58 and a twelve month high of $243.70. The stock has a market capitalization of $3.80 billion, a PE ratio of 26.15 and a beta of 0.89.

UniFirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The company had revenue of $604.91 million during the quarter, compared to analysts' expectations of $606.60 million. During the same period in the prior year, the company posted $2.26 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts predict that UniFirst Co. will post 7.71 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.35 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. UniFirst's dividend payout ratio (DPR) is presently 17.90%.

Analysts Set New Price Targets

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

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.