Wealth Enhancement Advisory Services LLC Raises Stake in UniFirst Co. (NYSE:UNF)

Wealth Enhancement Advisory Services LLC increased its stake in UniFirst Co. (NYSE:UNF) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,677 shares of the textile maker’s stock after buying an additional 239 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in UniFirst were worth $333,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. bought a new position in UniFirst during the 3rd quarter worth about $266,000. Eastern Bank bought a new stake in shares of UniFirst in the 3rd quarter valued at about $109,000. Copeland Capital Management LLC grew its position in shares of UniFirst by 12.4% in the 3rd quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock worth $65,989,000 after buying an additional 36,651 shares during the last quarter. Raymond James & Associates raised its stake in shares of UniFirst by 6.7% during the 3rd quarter. Raymond James & Associates now owns 66,924 shares of the textile maker’s stock worth $13,294,000 after acquiring an additional 4,174 shares in the last quarter. Finally, Creative Planning lifted its position in UniFirst by 194.6% during the third quarter. Creative Planning now owns 3,930 shares of the textile maker’s stock valued at $781,000 after acquiring an additional 2,596 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Trading Up 2.5 %

NYSE UNF opened at $200.73 on Monday. The stock has a market cap of $3.74 billion, a P/E ratio of 25.83 and a beta of 0.82. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $201.51. The company has a fifty day simple moving average of $188.90 and a two-hundred day simple moving average of $177.49.

UniFirst Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.70%. This is a boost from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s payout ratio is currently 16.99%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UNF. StockNews.com raised UniFirst from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Robert W. Baird boosted their target price on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, UniFirst has an average rating of “Hold” and a consensus target price of $186.25.

About UniFirst

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.