Charles Schwab Investment Management Inc. Buys 8,587 Shares of UniFirst Co. (NYSE:UNF)

Charles Schwab Investment Management Inc. raised its position in UniFirst Co. (NYSE:UNF - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 229,749 shares of the textile maker's stock after acquiring an additional 8,587 shares during the period. Charles Schwab Investment Management Inc. owned about 1.23% of UniFirst worth $45,640,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of UniFirst by 1,627.3% in the 2nd quarter. Quarry LP now owns 190 shares of the textile maker's stock valued at $33,000 after purchasing an additional 179 shares during the period. GAMMA Investing LLC grew its stake in shares of UniFirst by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker's stock valued at $36,000 after purchasing an additional 69 shares during the period. First Horizon Advisors Inc. grew its position 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. Innealta Capital LLC bought a new stake in UniFirst during the 2nd quarter worth approximately $92,000. Finally, Eastern Bank bought a new position in UniFirst in the 3rd quarter valued at $109,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird increased their price target on UniFirst from $199.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. StockNews.com downgraded UniFirst from a "strong-buy" rating to a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.25.

Insider Buying and Selling

In other UniFirst news, VP David Martin Katz sold 587 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total transaction of $113,337.96. Following the completion of the transaction, the vice president now directly owns 5,625 shares in the company, valued at $1,086,075. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder The Ronald D. Croatti Trust - 1 sold 9,500 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total transaction of $1,814,215.00. Following the sale, the insider now directly owns 17,390 shares in the company, valued at approximately $3,320,968.30. The trade was a 35.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,294 shares of company stock worth $2,546,632. Company insiders own 0.74% of the company's stock.

UniFirst Price Performance

UNF stock traded up $0.30 during trading hours on Monday, reaching $201.17. 59,273 shares of the stock were exchanged, compared to its average volume of 84,535. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 25.85 and a beta of 0.82. The firm's 50-day moving average is $192.81 and its 200-day moving average is $181.30. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $208.20.

UniFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. This is a boost from UniFirst's previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.70%. UniFirst's dividend payout ratio (DPR) is presently 18.02%.

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.