Squarepoint Ops LLC Invests $5.14 Million in UniFirst Co. (NYSE:UNF)

Squarepoint Ops LLC purchased a new stake in shares of UniFirst Co. (NYSE:UNF) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 29,959 shares of the textile maker’s stock, valued at approximately $5,139,000. Squarepoint Ops LLC owned approximately 0.16% of UniFirst at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of UNF. Vanguard Group Inc. raised its holdings in UniFirst by 0.3% in 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. Dimensional Fund Advisors LP raised its stake in shares of UniFirst by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 737,003 shares of the textile maker’s stock worth $126,418,000 after purchasing an additional 23,069 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of UniFirst by 8.9% during 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. American Century Companies Inc. boosted its position in shares of UniFirst by 25.9% during the second quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock valued at $29,729,000 after buying an additional 35,604 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in UniFirst by 17.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 144,090 shares of the textile maker’s stock worth $24,716,000 after buying an additional 21,547 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Transactions at UniFirst

In other UniFirst news, Director Michael Iandoli sold 682 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $194.30, for a total transaction of $132,512.60. Following the completion of the sale, the director now owns 4,744 shares of the company’s stock, valued at $921,759.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UniFirst news, Director Michael Iandoli sold 682 shares of UniFirst 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Martin Katz sold 550 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $175.00, for a total transaction of $96,250.00. Following the completion of the transaction, the vice president now owns 6,259 shares of the company’s stock, valued at $1,095,325. The disclosure for this sale can be found here. Insiders sold 1,457 shares of company stock worth $269,413 in the last three months. Corporate insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on UNF shares. StockNews.com upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. Robert W. Baird increased 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. JPMorgan Chase & Co. lifted their target price on shares of UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, June 27th. Finally, UBS Group increased their price target on UniFirst from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $186.00.

UniFirst Trading Up 3.3 %

UNF opened at $198.65 on Tuesday. The company’s 50 day moving average is $187.37 and its 200 day moving average is $172.58. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 29.00 and a beta of 0.81. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $199.67.

UniFirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Friday, September 6th. UniFirst’s payout ratio is 19.27%.

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.