Envestnet Asset Management Inc. Grows Stock Holdings in UniFirst Co. (NYSE:UNF)

Envestnet Asset Management Inc. grew its holdings in UniFirst Co. (NYSE:UNF – Get Rating) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,204 shares of the textile maker’s stock after acquiring an additional 12,987 shares during the period. Envestnet Asset Management Inc. owned about 0.39% of UniFirst worth $13,490,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in UNF. Maryland State Retirement & Pension System boosted its holdings in UniFirst by 1.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 6,070 shares of the textile maker’s stock worth $1,277,000 after buying an additional 72 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in UniFirst by 90.1% during the fourth quarter. Quadrant Capital Group LLC now owns 154 shares of the textile maker’s stock worth $32,000 after buying an additional 73 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in UniFirst by 2.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,696 shares of the textile maker’s stock worth $777,000 after buying an additional 90 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in UniFirst by 5.3% during the first quarter. Mutual of America Capital Management LLC now owns 2,191 shares of the textile maker’s stock worth $404,000 after buying an additional 111 shares in the last quarter. Finally, Profund Advisors LLC boosted its holdings in UniFirst by 9.6% during the fourth quarter. Profund Advisors LLC now owns 1,694 shares of the textile maker’s stock worth $356,000 after buying an additional 148 shares in the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

UniFirst Stock Performance

NYSE:UNF opened at $192.41 on Friday. The company has a fifty day moving average of $174.49 and a two-hundred day moving average of $175.55. The stock has a market capitalization of $3.60 billion, a PE ratio of 32.67 and a beta of 0.93. UniFirst Co. has a fifty-two week low of $154.72 and a fifty-two week high of $232.75.

UniFirst (NYSE:UNF – Get Rating) last issued its earnings results on Wednesday, June 29th. The textile maker reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.16). The business had revenue of $511.50 million during the quarter, compared to analyst estimates of $500.61 million. UniFirst had a net margin of 5.74% and a return on equity of 6.86%. UniFirst’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share. Research analysts forecast that UniFirst Co. will post 6.76 earnings per share for the current year.

UniFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, September 6th. UniFirst’s dividend payout ratio (DPR) is 20.37%.

Analyst Ratings Changes

UNF has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of UniFirst from $213.00 to $195.00 in a report on Wednesday, May 18th. StockNews.com cut shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Saturday, May 21st.

Insider Activity

In other news, VP David Martin Katz sold 1,265 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $195.00, for a total value of $246,675.00. Following the completion of the sale, the vice president now directly owns 3,713 shares in the company, valued at $724,035. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

UniFirst Profile

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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.