Park Avenue Securities LLC Cuts Stock Position in UniFirst Co. (NYSE:UNF)

Park Avenue Securities LLC lessened its holdings in UniFirst Co. (NYSE:UNF) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,225 shares of the textile maker’s stock after selling 295 shares during the period. Park Avenue Securities LLC’s holdings in UniFirst were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Arizona State Retirement System raised its stake in shares of UniFirst by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock valued at $726,000 after acquiring an additional 78 shares during the period. Pullen Investment Management LLC increased its stake in UniFirst by 2.9% during the 2nd quarter. Pullen Investment Management LLC now owns 2,806 shares of the textile maker’s stock worth $481,000 after buying an additional 79 shares during the period. Oak Family Advisors LLC increased its stake in UniFirst by 3.3% during the 2nd quarter. Oak Family Advisors LLC now owns 2,915 shares of the textile maker’s stock worth $500,000 after buying an additional 93 shares during the period. Louisiana State Employees Retirement System increased its stake in UniFirst by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the textile maker’s stock worth $1,304,000 after buying an additional 100 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in UniFirst by 4.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,211 shares of the textile maker’s stock worth $383,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Stock Performance

NYSE UNF opened at $188.61 on Friday. UniFirst Co. has a one year low of $149.58 and a one year high of $200.07. The company has a 50-day simple moving average of $187.48 and a 200-day simple moving average of $173.93. The firm has a market capitalization of $3.51 billion, a PE ratio of 27.53 and a beta of 0.81.

Wall Street Analyst Weigh In

UNF has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of UniFirst from $185.00 to $199.00 and gave the stock 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. JPMorgan Chase & Co. boosted 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 boosted their target price on shares of UniFirst from $186.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $186.00.

Insider Activity

In other news, Director Michael Iandoli sold 682 shares of UniFirst stock in a transaction dated Wednesday, July 31st. The shares were 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other UniFirst news, Director Michael Iandoli sold 682 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $194.30, for a total transaction 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 $921,759.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David Martin Katz sold 550 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.00, for a total transaction of $96,250.00. Following the transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at $1,095,325. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,457 shares of company stock valued at $269,413. Company insiders own 0.74% of the company’s stock.

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.