Norges Bank Acquires Shares of 155,062 UniFirst Co. (NYSE:UNF)

Norges Bank bought a new position in UniFirst Co. (NYSE:UNFFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 155,062 shares of the textile maker’s stock, valued at approximately $28,362,000. Norges Bank owned about 0.83% of UniFirst as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Eagle Bay Advisors LLC grew its stake in UniFirst by 78.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 171 shares of the textile maker’s stock worth $31,000 after buying an additional 75 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of UniFirst in the 4th quarter worth approximately $80,000. Orion Capital Management LLC bought a new stake in UniFirst during the 3rd quarter worth approximately $99,000. SRS Capital Advisors Inc. increased its holdings in UniFirst by 22.1% during the 3rd quarter. SRS Capital Advisors Inc. now owns 707 shares of the textile maker’s stock valued at $115,000 after purchasing an additional 128 shares in the last quarter. Finally, Wealth Alliance bought a new position in UniFirst in the 4th quarter valued at $224,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on UNF. UBS Group increased their target price on UniFirst from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Thursday, March 28th. StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Finally, Barclays boosted their target price on shares of UniFirst from $160.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, UniFirst presently has an average rating of “Hold” and a consensus price target of $177.75.

Check Out Our Latest Analysis on UNF

UniFirst Stock Up 0.1 %

Shares of UNF opened at $158.60 on Friday. The stock’s fifty day simple moving average is $163.61 and its 200-day simple moving average is $169.41. The firm has a market capitalization of $2.96 billion, a PE ratio of 25.96 and a beta of 0.83. UniFirst Co. has a 12-month low of $150.50 and a 12-month high of $187.22.

UniFirst (NYSE:UNFGet Free Report) last issued its earnings results on Wednesday, March 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.19). UniFirst had a net margin of 4.92% and a return on equity of 6.19%. The business had revenue of $590.71 million during the quarter, compared to the consensus estimate of $587.56 million. Analysts anticipate that UniFirst Co. will post 7.48 EPS for the current year.

UniFirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.83%. UniFirst’s dividend payout ratio is currently 21.60%.

About UniFirst

(Free Report)

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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