Russell Investments Group Ltd. Sells 3,093 Shares of UniFirst Co. (NYSE:UNF)

Russell Investments Group Ltd. decreased its position in UniFirst Co. (NYSE:UNF - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,454 shares of the textile maker's stock after selling 3,093 shares during the period. Russell Investments Group Ltd. owned about 0.10% of UniFirst worth $3,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of UNF. Independence Bank of Kentucky purchased a new stake in shares of UniFirst during the 4th quarter valued at approximately $34,000. Blue Trust Inc. raised its stake 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 valued at $39,000 after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC grew its holdings in UniFirst by 252.0% during 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 increased 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 valued at $61,000 after buying an additional 234 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of UniFirst by 419.0% in the fourth quarter. Meeder Asset Management Inc. now owns 628 shares of the textile maker's stock worth $107,000 after buying an additional 507 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other UniFirst news, VP David Martin Katz sold 1,299 shares of the stock in a transaction 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 transaction, the vice president now owns 6,455 shares in the company, valued at approximately $1,361,682.25. This represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

UniFirst Trading Up 1.3 %

Shares of UNF traded up $2.28 during mid-day trading on Tuesday, reaching $172.94. The company's stock had a trading volume of 123,425 shares, compared to its average volume of 102,593. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $243.70. The company's fifty day moving average price is $191.09 and its two-hundred day moving average price is $195.99. The stock has a market cap of $3.21 billion, a PE ratio of 22.12 and a beta of 0.88.

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 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 business had revenue of $602.20 million during the quarter, compared to the consensus estimate of $602.81 million. During the same quarter in the prior year, the business posted $1.09 earnings per share. UniFirst's quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts anticipate that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the textile maker to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

UniFirst Dividend Announcement

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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, June 6th. UniFirst's payout ratio is currently 17.41%.

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.