UniFirst Co. (NYSE:UNF) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in UniFirst Co. (NYSE:UNF - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 763,689 shares of the textile maker's stock after buying an additional 15,517 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.11% of UniFirst worth $130,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of UNF. Independence Bank of Kentucky purchased a new stake in UniFirst in the 4th quarter valued at $34,000. Blue Trust Inc. boosted its stake in shares of UniFirst by 1,105.3% during the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after buying an additional 210 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of UniFirst by 252.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock worth $59,000 after buying an additional 247 shares during the last quarter. Jones Financial Companies Lllp increased its position in UniFirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after acquiring an additional 234 shares during the period. Finally, Sterling Capital Management LLC raised its stake in UniFirst by 811.5% during the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock valued at $81,000 after acquiring an additional 422 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

UniFirst Stock Performance

NYSE:UNF opened at $177.52 on Friday. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 22.70 and a beta of 0.88. UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $243.70. The stock has a fifty day moving average price of $188.85 and a two-hundred day moving average price of $195.67.

UniFirst (NYSE:UNF - Get Free Report) last released its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 EPS 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 company had revenue of $602.20 million for the quarter, compared to analysts' expectations of $602.81 million. During the same period in the prior year, the firm posted $1.09 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst announced that its board has approved a stock repurchase plan on Tuesday, April 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 0.79%. UniFirst's dividend payout ratio is presently 17.41%.

Insiders Place Their Bets

In other news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $210.95, for a total transaction of $274,024.05. Following the completion of the transaction, the vice president now owns 6,455 shares of the company's stock, valued at $1,361,682.25. The trade was a 16.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.

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