Cibc World Markets Corp Takes $241,000 Position in UniFirst Co. (NYSE:UNF)

Cibc World Markets Corp acquired a new position in shares of UniFirst Co. (NYSE:UNF) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,408 shares of the textile maker’s stock, valued at approximately $241,000.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of UniFirst during the fourth quarter valued at about $24,576,000. Cerity Partners LLC purchased a new stake in UniFirst during the 3rd quarter worth approximately $10,270,000. Barclays PLC increased its stake in UniFirst by 464.6% during the 3rd quarter. Barclays PLC now owns 41,220 shares of the textile maker’s stock valued at $8,188,000 after purchasing an additional 33,919 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of UniFirst by 9.9% in the fourth quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker’s stock worth $62,456,000 after buying an additional 32,860 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of UniFirst by 173.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 47,968 shares of the textile maker’s stock worth $9,529,000 after buying an additional 30,458 shares during the period. Institutional investors own 78.17% of the company’s stock.

UniFirst Price Performance

NYSE UNF opened at $169.30 on Wednesday. The company has a fifty day moving average of $213.31 and a 200 day moving average of $198.98. The company has a market capitalization of $3.14 billion, a PE ratio of 21.65 and a beta of 0.89. UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $243.70.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, January 8th. The textile maker reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. The firm had revenue of $604.91 million for the quarter, compared to the consensus estimate of $606.60 million. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.26 earnings per share. Research analysts expect that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, March 7th. UniFirst’s dividend payout ratio (DPR) is 17.90%.

Insider Activity at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,299 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the completion of the transaction, the vice president now owns 6,455 shares in the company, valued at approximately $1,361,682.25. This represents a 16.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on UNF shares. UBS Group reduced their target price on UniFirst from $235.00 to $194.00 and set a “neutral” rating for the company in a research note on Tuesday. StockNews.com cut UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th.

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.