New South Capital Management Inc. Lowers Stock Holdings in UniFirst Co. (NYSE:UNF)

New South Capital Management Inc. lessened its position in UniFirst Co. (NYSE:UNF - Free Report) by 6.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 48,619 shares of the textile maker's stock after selling 3,619 shares during the period. New South Capital Management Inc. owned approximately 0.26% of UniFirst worth $8,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Independence Bank of Kentucky acquired a new stake in UniFirst in the fourth quarter valued at about $34,000. Blue Trust Inc. lifted its holdings in shares of UniFirst by 1,105.3% in the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock valued at $39,000 after buying an additional 210 shares during the period. Smartleaf Asset Management LLC grew its holdings in 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 acquiring an additional 247 shares during the period. Jones Financial Companies Lllp raised its position in UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock worth $61,000 after acquiring an additional 234 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in UniFirst by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker's stock valued at $73,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on UNF. StockNews.com cut shares of UniFirst from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. UBS Group upped their target price on shares of UniFirst from $190.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, January 9th.

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UniFirst Price Performance

UniFirst stock traded down $0.06 during trading hours on Friday, hitting $209.23. The stock had a trading volume of 86,079 shares, compared to its average volume of 138,256. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $243.70. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 26.76 and a beta of 0.89. The stock's fifty day moving average is $211.93 and its two-hundred day moving average is $197.81.

UniFirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The firm had revenue of $604.91 million for the quarter, compared to analysts' expectations of $606.60 million. During the same period in the prior year, the company earned $2.26 EPS. The firm's revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, March 7th. UniFirst's dividend payout ratio (DPR) is presently 17.90%.

Insiders Place Their Bets

In related 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 transaction of $274,024.05. Following the sale, the vice president now owns 6,455 shares of the company's stock, valued at $1,361,682.25. This trade represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by company insiders.

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.