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

UniFirst Co. (NYSE:UNF) VP David Martin Katz sold 587 shares of the firm’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 value of $113,337.96. Following the completion of the transaction, the vice president now owns 5,625 shares in the company, valued at approximately $1,086,075. This trade represents a 9.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

UniFirst Stock Performance

NYSE:UNF opened at $200.23 on Monday. UniFirst Co. has a one year low of $149.58 and a one year high of $205.38. The stock has a market cap of $3.72 billion, a PE ratio of 25.77 and a beta of 0.82. The stock has a 50 day moving average price of $191.32 and a 200 day moving average price of $179.99.

UniFirst Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 6th. 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%. UniFirst’s dividend payout ratio (DPR) is 18.02%.

Analysts Set New Price Targets

UNF has been the subject of several recent research reports. Robert W. Baird increased their price objective 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 upgraded shares of UniFirst from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, UniFirst presently has a consensus rating of “Hold” and an average target price of $186.25.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC increased its position in UniFirst by 67.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 6,704 shares of the textile maker’s stock worth $1,150,000 after purchasing an additional 2,707 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of UniFirst by 164.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,387 shares of the textile maker’s stock worth $1,666,000 after buying an additional 5,213 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of UniFirst by 255.1% during the 2nd quarter. XTX Topco Ltd now owns 4,542 shares of the textile maker’s stock worth $779,000 after buying an additional 3,263 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of UniFirst by 8.9% during the 2nd quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock valued at $106,700,000 after buying an additional 51,088 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in UniFirst in the second quarter valued at approximately $471,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

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.