Texas Permanent School Fund Corp Sells 470 Shares of UniFirst Co. (NYSE:UNF)

Texas Permanent School Fund Corp trimmed its position in UniFirst Co. (NYSE:UNF) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,755 shares of the textile maker’s stock after selling 470 shares during the period. Texas Permanent School Fund Corp owned approximately 0.07% of UniFirst worth $2,188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of UNF. Vanguard Group Inc. boosted its position in UniFirst by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,695,590 shares of the textile maker’s stock worth $294,066,000 after acquiring an additional 4,650 shares during the last quarter. Victory Capital Management Inc. grew its position 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 purchasing an additional 51,088 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in UniFirst by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,465 shares of the textile maker’s stock valued at $37,216,000 after buying an additional 7,633 shares during the last quarter. Norges Bank bought a new stake in UniFirst during the 4th quarter worth about $28,362,000. Finally, M&G Plc acquired a new position in shares of UniFirst during the 1st quarter worth about $19,842,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other UniFirst news, Director Michael Iandoli sold 682 shares of UniFirst stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $194.30, for a total value of $132,512.60. Following the completion of the transaction, the director now directly owns 4,744 shares of the company’s stock, valued at approximately $921,759.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP William Masters Ross sold 225 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $180.67, for a total transaction of $40,650.75. Following the sale, the executive vice president now owns 4,034 shares in the company, valued at approximately $728,822.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Iandoli sold 682 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $194.30, for a total transaction of $132,512.60. Following the transaction, the director now owns 4,744 shares of the company’s stock, valued at $921,759.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,990 shares of company stock valued at $2,065,585. 0.74% of the stock is owned by company insiders.

UniFirst Trading Up 0.1 %

UNF opened at $188.49 on Wednesday. The stock’s fifty day simple moving average is $184.60 and its 200 day simple moving average is $171.12. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $197.88. The stock has a market cap of $3.52 billion, a PE ratio of 27.50 and a beta of 0.81.

UniFirst (NYSE:UNF) last posted its earnings results on Wednesday, June 26th. The textile maker reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.31. UniFirst had a net margin of 5.44% and a return on equity of 6.93%. The company had revenue of $603.33 million during the quarter, compared to analysts’ expectations of $600.97 million. Equities analysts forecast that UniFirst Co. will post 7.83 earnings per share for the current year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, September 6th. UniFirst’s payout ratio is 19.27%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on UNF shares. JPMorgan Chase & Co. upped their target price on UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, June 27th. UBS Group raised their target price on shares of UniFirst from $186.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Robert W. Baird lifted their price objective on shares of UniFirst from $185.00 to $199.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $186.00.

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.