Creative Planning Boosts Stock Position in UniFirst Co. (NYSE:UNF)

Creative Planning boosted its stake in UniFirst Co. (NYSE:UNF) by 194.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,930 shares of the textile maker’s stock after buying an additional 2,596 shares during the period. Creative Planning’s holdings in UniFirst were worth $781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in UniFirst by 60.5% in 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 lifted its holdings in UniFirst by 1.9% in the second quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock worth $726,000 after buying an additional 78 shares during the period. Pullen Investment Management LLC lifted its holdings in UniFirst by 2.9% in the second 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 lifted its holdings in UniFirst by 3.3% in the second 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. Finally, Louisiana State Employees Retirement System lifted its holdings in UniFirst by 1.3% in the second 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. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UNF has been the subject of several research analyst reports. StockNews.com upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a report on Monday, August 12th. Robert W. Baird raised 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, UniFirst presently has an average rating of “Hold” and an average price target of $186.25.

UniFirst Stock Performance

Shares of NYSE UNF opened at $179.88 on Friday. UniFirst Co. has a fifty-two week low of $149.58 and a fifty-two week high of $200.07. The company has a 50 day simple moving average of $188.64 and a two-hundred day simple moving average of $176.15. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 23.15 and a beta of 0.82.

UniFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. This is an increase from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.78%. UniFirst’s dividend payout ratio (DPR) is currently 16.99%.

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.