QRG Capital Management Inc. Sells 497 Shares of Unifirst Corporation $UNF

QRG Capital Management Inc. lowered its holdings in Unifirst Corporation (NYSE:UNF) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,949 shares of the textile maker’s stock after selling 497 shares during the period. QRG Capital Management Inc.’s holdings in Unifirst were worth $555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Unifirst by 5.3% in the first quarter. Envestnet Asset Management Inc. now owns 162,751 shares of the textile maker’s stock valued at $28,319,000 after purchasing an additional 8,253 shares during the period. Inspire Investing LLC raised its position in shares of Unifirst by 150.5% in the first quarter. Inspire Investing LLC now owns 5,855 shares of the textile maker’s stock valued at $1,019,000 after purchasing an additional 3,518 shares during the period. Russell Investments Group Ltd. raised its position in shares of Unifirst by 2.3% in the first quarter. Russell Investments Group Ltd. now owns 18,871 shares of the textile maker’s stock valued at $3,284,000 after purchasing an additional 417 shares during the period. State of Alaska Department of Revenue raised its position in shares of Unifirst by 7.3% in the second quarter. State of Alaska Department of Revenue now owns 8,923 shares of the textile maker’s stock valued at $1,678,000 after purchasing an additional 607 shares during the period. Finally, Park Avenue Securities LLC raised its position in shares of Unifirst by 8.6% in the first quarter. Park Avenue Securities LLC now owns 3,032 shares of the textile maker’s stock valued at $528,000 after purchasing an additional 239 shares during the period. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

UNF has been the topic of a number of analyst reports. Barclays set a $152.00 target price on shares of Unifirst and gave the stock an “underweight” rating in a report on Monday, June 30th. JPMorgan Chase & Co. initiated coverage on shares of Unifirst in a report on Monday, July 14th. They set an “underweight” rating and a $175.00 target price on the stock. Robert W. Baird set a $197.00 target price on shares of Unifirst in a report on Monday, June 30th. UBS Group decreased their target price on shares of Unifirst from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, June 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Unifirst in a report on Wednesday. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Unifirst currently has a consensus rating of “Reduce” and an average price target of $179.50.

Unifirst Stock Performance

Shares of Unifirst stock opened at $157.27 on Friday. Unifirst Corporation has a 52-week low of $156.34 and a 52-week high of $243.70. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 19.32 and a beta of 0.86. The company has a fifty day moving average of $171.88 and a 200-day moving average of $176.55.

Unifirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Unifirst’s dividend payout ratio is 17.20%.

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.