UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in UniFirst Co. (NYSE:UNF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of UniFirst Co. (NYSE:UNF) by 10.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,510 shares of the textile maker’s stock after selling 3,252 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in UniFirst were worth $5,465,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. First Horizon Advisors Inc. grew its stake in UniFirst by 16.5% during the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock worth $73,000 after buying an additional 52 shares during the period. FMR LLC grew its stake in UniFirst by 3.1% during the third quarter. FMR LLC now owns 1,936 shares of the textile maker’s stock worth $385,000 after buying an additional 58 shares during the period. GAMMA Investing LLC grew its stake in UniFirst by 60.5% during the third quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock worth $36,000 after buying an additional 69 shares during the period. Arizona State Retirement System boosted its stake in shares of UniFirst by 1.9% in the second quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock valued at $726,000 after purchasing an additional 78 shares during the period. Finally, Pullen Investment Management LLC boosted its stake in shares of UniFirst by 2.9% in the second quarter. Pullen Investment Management LLC now owns 2,806 shares of the textile maker’s stock valued at $481,000 after purchasing an additional 79 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

UniFirst Price Performance

UNF opened at $194.48 on Wednesday. The stock has a market capitalization of $3.61 billion, a PE ratio of 25.03 and a beta of 0.84. The firm’s fifty day moving average price is $193.56 and its 200 day moving average price is $182.92. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $208.20.

UniFirst Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 0.72%. UniFirst’s dividend payout ratio is currently 18.02%.

Insider Activity at UniFirst

In other UniFirst news, CEO Steven S. Sintros sold 3,207 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the sale, the chief executive officer now directly owns 22,571 shares of the company’s stock, valued at approximately $4,357,105.84. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total transaction of $1,814,215.00. Following the sale, the insider now directly owns 17,390 shares in the company, valued at $3,320,968.30. This trade represents a 35.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,294 shares of company stock valued at $2,546,632 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

UNF has been the subject of several analyst reports. StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 28th. Robert W. Baird upped their target price on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $186.25.

UniFirst Company Profile

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.