Insider Selling: UniFirst Co. (NYSE:UNF) VP Sells 587 Shares of Stock

UniFirst Co. (NYSE:UNF - Get Free Report) VP David Martin Katz sold 587 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 owns 5,625 shares of the company's stock, valued at approximately $1,086,075. The trade was a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

UniFirst Stock Up 1.8 %

UNF stock traded up $3.47 during mid-day trading on Friday, hitting $199.54. The company had a trading volume of 19,139 shares, compared to its average volume of 84,290. The company has a 50-day moving average price of $191.10 and a 200 day moving average price of $179.49. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $205.38. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 25.23 and a beta of 0.82.

UniFirst Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This is an increase from UniFirst's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, December 6th. UniFirst's dividend payout ratio is currently 16.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on UNF shares. StockNews.com raised UniFirst from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Robert W. Baird lifted their target price on UniFirst from $199.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $186.25.

Institutional Investors Weigh In On UniFirst

Several large investors have recently bought and sold shares of UNF. GAMMA Investing LLC increased its stake in UniFirst by 60.5% during the third quarter. GAMMA Investing LLC now owns 183 shares of the textile maker's stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Quarry LP boosted its holdings in shares of UniFirst by 1,627.3% in the 2nd quarter. Quarry LP now owns 190 shares of the textile maker's stock worth $33,000 after purchasing an additional 179 shares during the period. First Horizon Advisors Inc. increased its position in shares of UniFirst by 16.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker's stock valued at $73,000 after purchasing an additional 52 shares during the last quarter. Covestor Ltd raised its holdings in UniFirst by 69.7% during the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker's stock valued at $72,000 after buying an additional 170 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in UniFirst by 291.6% in the third quarter. TD Private Client Wealth LLC now owns 466 shares of the textile maker's stock worth $93,000 after buying an additional 347 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

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.