Alps Advisors Inc. Takes $356,000 Position in UniFirst Co. (NYSE:UNF)

Alps Advisors Inc. purchased a new stake in shares of UniFirst Co. (NYSE:UNFGet Rating) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,069 shares of the textile maker’s stock, valued at approximately $356,000.

A number of other institutional investors have also recently made changes to their positions in UNF. Pinebridge Investments L.P. purchased a new stake in shares of UniFirst during the second quarter valued at approximately $27,000. Signaturefd LLC grew its holdings in shares of UniFirst by 488.2% during the first quarter. Signaturefd LLC now owns 200 shares of the textile maker’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Covestor Ltd grew its holdings in shares of UniFirst by 187.4% during the first quarter. Covestor Ltd now owns 273 shares of the textile maker’s stock valued at $50,000 after buying an additional 178 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of UniFirst by 79.9% during the first quarter. Quadrant Capital Group LLC now owns 277 shares of the textile maker’s stock valued at $51,000 after buying an additional 123 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in UniFirst in the first quarter worth approximately $69,000. Hedge funds and other institutional investors own 77.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of UniFirst in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet cut shares of UniFirst from a “b-” rating to a “c+” rating in a report on Thursday, September 15th.

Insider Transactions at UniFirst

In other news, CEO Steven S. Sintros sold 178 shares of UniFirst stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $180.00, for a total transaction of $32,040.00. Following the transaction, the chief executive officer now owns 19,984 shares in the company, valued at approximately $3,597,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Shane O’connor sold 1,233 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $180.00, for a total transaction of $221,940.00. Following the sale, the chief financial officer now directly owns 3,901 shares in the company, valued at approximately $702,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven S. Sintros sold 178 shares of the firm’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $180.00, for a total transaction of $32,040.00. Following the sale, the chief executive officer now owns 19,984 shares in the company, valued at $3,597,120. The disclosure for this sale can be found here. Insiders have sold 2,978 shares of company stock worth $536,040 in the last 90 days. 1.20% of the stock is currently owned by insiders.

UniFirst Trading Down 1.1 %

Shares of UNF stock opened at $191.71 on Wednesday. The firm’s 50 day moving average is $175.91 and its 200 day moving average is $175.89. The stock has a market capitalization of $3.58 billion, a P/E ratio of 35.11 and a beta of 0.94. UniFirst Co. has a 12-month low of $154.72 and a 12-month high of $214.65.

UniFirst (NYSE:UNFGet Rating) last issued its quarterly earnings results on Wednesday, October 19th. The textile maker reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.06. The business had revenue of $516.40 million for the quarter, compared to analysts’ expectations of $511.58 million. UniFirst had a net margin of 5.17% and a return on equity of 6.77%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 EPS. As a group, equities analysts predict that UniFirst Co. will post 7.24 earnings per share for the current year.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 7th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.30. UniFirst’s dividend payout ratio (DPR) is currently 21.98%.

UniFirst Company 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.

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Institutional Ownership by Quarter for UniFirst (NYSE:UNF)

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