MML Investors Services LLC Grows Stock Position in UniFirst Co. (NYSE:UNF)

MML Investors Services LLC boosted its position in UniFirst Co. (NYSE:UNF – Get Rating) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,332 shares of the textile maker’s stock after buying an additional 541 shares during the period. MML Investors Services LLC’s holdings in UniFirst were worth $561,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Pinebridge Investments L.P. purchased a new stake in shares of UniFirst in the second quarter valued at about $27,000. Federated Hermes Inc. increased its position in UniFirst by 520.5% during the 2nd quarter. Federated Hermes Inc. now owns 242 shares of the textile maker’s stock worth $42,000 after purchasing an additional 203 shares during the period. Covestor Ltd raised its stake in shares of UniFirst by 187.4% during the 1st quarter. Covestor Ltd now owns 273 shares of the textile maker’s stock worth $50,000 after buying an additional 178 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in shares of UniFirst in the 3rd quarter valued at approximately $52,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of UniFirst by 328.9% in the third quarter. Quadrant Capital Group LLC now owns 356 shares of the textile maker’s stock valued at $60,000 after buying an additional 273 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

UniFirst Stock Down 2.5 %

NYSE:UNF opened at $194.86 on Tuesday. UniFirst Co. has a 52-week low of $154.72 and a 52-week high of $205.59. The stock has a fifty day simple moving average of $197.29 and a 200-day simple moving average of $186.55. The company has a market capitalization of $3.64 billion, a PE ratio of 35.43 and a beta of 0.91.

UniFirst (NYSE:UNF – Get Rating) last announced its quarterly earnings results on Wednesday, January 4th. The textile maker reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.26. UniFirst had a net margin of 5.04% and a return on equity of 6.91%. The company had revenue of $541.80 million for the quarter, compared to the consensus estimate of $524.76 million. As a group, equities analysts anticipate that UniFirst Co. will post 7.53 earnings per share for the current year.

UniFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 9th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.24 annualized dividend and a dividend yield of 0.64%. UniFirst’s dividend payout ratio is currently 22.55%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com downgraded UniFirst from a “buy” rating to a “hold” rating in a report on Thursday, March 2nd. Robert W. Baird boosted their price objective on shares of UniFirst to $225.00 in a report on Thursday, January 5th.

Insider Activity at UniFirst

In other UniFirst news, major shareholder Matthew Croatti sold 7,724 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $205.03, for a total transaction of $1,583,651.72. Following the sale, the insider now directly owns 11,266 shares of the company’s stock, valued at approximately $2,309,867.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Matthew Croatti sold 7,724 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $205.03, for a total transaction of $1,583,651.72. Following the transaction, the insider now owns 11,266 shares of the company’s stock, valued at $2,309,867.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Masters Ross sold 1,231 shares of UniFirst stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $200.00, for a total transaction of $246,200.00. Following the completion of the sale, the executive vice president now directly owns 4,335 shares of the company’s stock, valued at $867,000. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

UniFirst Company Profile

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UniFirst Corp. engages in the provision of workplace uniforms and protective work wear clothing. It operates through following segments: the United States and Canadian Rental and Cleaning, Manufacturing (MFG), Specialty Garments, First Aid, and Corporate. The U.S. and Canadian Rental and Cleaning segment purchases, rents, cleans, delivers, and sells uniforms, protective clothing, and non-garment items.