Harbor Capital Advisors Inc. Purchases 5,213 Shares of UniFirst Co. (NYSE:UNF)

Harbor Capital Advisors Inc. boosted its position in UniFirst Co. (NYSE:UNF) by 164.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,387 shares of the textile maker’s stock after acquiring an additional 5,213 shares during the period. Harbor Capital Advisors Inc.’s holdings in UniFirst were worth $1,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of UniFirst by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,695,590 shares of the textile maker’s stock valued at $294,066,000 after acquiring an additional 4,650 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in UniFirst by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 737,003 shares of the textile maker’s stock valued at $126,418,000 after purchasing an additional 23,069 shares during the last quarter. Victory Capital Management Inc. lifted its stake in UniFirst by 8.9% in the second quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock valued at $106,700,000 after buying an additional 51,088 shares during the period. Copeland Capital Management LLC boosted its holdings in UniFirst by 12.4% during the third 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. Finally, American Century Companies Inc. grew its position in shares of UniFirst by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock worth $29,729,000 after buying an additional 35,604 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. Robert W. Baird increased their target price on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $186.25.

UniFirst Stock Performance

Shares of UNF opened at $181.76 on Wednesday. The stock has a 50 day simple moving average of $188.47 and a 200 day simple moving average of $176.59. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $200.07. The firm has a market capitalization of $3.38 billion, a PE ratio of 23.39 and a beta of 0.82.

UniFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This is an increase from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.77%. UniFirst’s dividend payout ratio is currently 16.99%.

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.