UniFirst Co. (NYSE:UNF) CEO Sells 3,207 Shares

UniFirst Co. (NYSE:UNF - Get Free Report) CEO Steven S. Sintros sold 3,207 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the completion of the transaction, the chief executive officer now directly owns 22,571 shares of the company's stock, valued at $4,357,105.84. This represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UniFirst Stock Up 2.1 %

Shares of UNF traded up $4.16 during midday trading on Friday, hitting $200.23. The company had a trading volume of 48,451 shares, compared to its average volume of 84,419. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 25.23 and a beta of 0.82. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $205.38. The company's 50 day moving average price is $191.10 and its 200 day moving average price is $179.49.

UniFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from UniFirst's previous quarterly dividend of $0.33. UniFirst's dividend payout ratio is currently 16.99%.

Analyst Upgrades and Downgrades

UNF has been the subject of several analyst reports. Robert W. Baird boosted their target price on UniFirst from $199.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of UniFirst from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $186.25.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP grew its stake in shares of UniFirst by 1,627.3% in the second quarter. Quarry LP now owns 190 shares of the textile maker's stock worth $33,000 after acquiring an additional 179 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of UniFirst by 60.5% in 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 position in shares of UniFirst by 69.7% during the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker's stock worth $72,000 after buying an additional 170 shares during the period. First Horizon Advisors Inc. raised its position in shares of UniFirst by 16.5% during the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker's stock worth $73,000 after purchasing an additional 52 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of UniFirst in the 2nd quarter valued at about $92,000. 78.17% of the stock is owned by institutional investors and hedge funds.

UniFirst Company 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.

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