UniFirst Co. (NYSE:UNF) Shares Sold by Barclays PLC

Barclays PLC lessened its holdings in UniFirst Co. (NYSE:UNF - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,985 shares of the textile maker's stock after selling 13,235 shares during the quarter. Barclays PLC owned approximately 0.15% of UniFirst worth $4,788,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in UNF. Independence Bank of Kentucky bought a new stake in shares of UniFirst during the 4th quarter valued at about $34,000. Blue Trust Inc. grew its holdings 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 valued at $39,000 after purchasing an additional 210 shares during the last quarter. 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 valued at $59,000 after purchasing an additional 247 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of UniFirst by 187.2% during the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock worth $61,000 after purchasing an additional 234 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of UniFirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock worth $81,000 after purchasing an additional 422 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

UniFirst Stock Performance

UniFirst stock opened at $177.52 on Friday. UniFirst Co. has a twelve month low of $149.58 and a twelve month high of $243.70. The firm has a market cap of $3.30 billion, a PE ratio of 22.70 and a beta of 0.88. The firm's 50 day moving average price is $188.85 and its two-hundred day moving average price is $195.72.

UniFirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The firm had revenue of $602.20 million for the quarter, compared to analysts' expectations of $602.81 million. During the same quarter in the prior year, the business posted $1.09 earnings per share. UniFirst's revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that UniFirst Co. will post 7.71 EPS for the current fiscal year.

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

UniFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 0.79%. The ex-dividend date of this dividend is Friday, June 6th. UniFirst's dividend payout ratio (DPR) is presently 17.41%.

Insiders Place Their Bets

In related news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares of the company's stock, valued at approximately $1,361,682.25. The trade was a 16.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays reaffirmed an "underweight" rating and issued a $152.00 target price (down from $180.00) on shares of UniFirst in a research report on Friday, April 4th. Robert W. Baird cut their price objective on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. UBS Group upped their target price on shares of UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, StockNews.com cut UniFirst from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Two research 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $180.00.

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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