Intech Investment Management LLC Has $568,000 Position in UniFirst Co. (NYSE:UNF)

Intech Investment Management LLC boosted its holdings in shares of UniFirst Co. (NYSE:UNF) by 97.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,860 shares of the textile maker’s stock after acquiring an additional 1,414 shares during the period. Intech Investment Management LLC’s holdings in UniFirst were worth $568,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in UniFirst by 8.9% during the 2nd quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock worth $106,700,000 after acquiring an additional 51,088 shares during the last quarter. Copeland Capital Management LLC lifted its position in shares of UniFirst by 12.4% during the third quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock valued at $65,989,000 after purchasing an additional 36,651 shares in the last quarter. American Century Companies Inc. boosted its holdings in UniFirst by 25.9% during the second quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock worth $29,729,000 after purchasing an additional 35,604 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in UniFirst by 305.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 41,936 shares of the textile maker’s stock worth $7,193,000 after purchasing an additional 31,583 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in UniFirst in the 2nd quarter valued at about $5,139,000. 78.17% of the stock is owned by institutional investors.

UniFirst Stock Down 1.0 %

Shares of UNF stock opened at $200.87 on Monday. The business has a 50-day moving average price of $192.81 and a two-hundred day moving average price of $181.19. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $208.20. The firm has a market cap of $3.73 billion, a P/E ratio of 25.85 and a beta of 0.82.

UniFirst Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.70%. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 6th. UniFirst’s dividend payout ratio (DPR) is presently 18.02%.

Insider Transactions at UniFirst

In related news, VP David Martin Katz sold 587 shares of UniFirst stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total value of $113,337.96. Following the completion of the sale, the vice president now directly owns 5,625 shares in the company, valued at approximately $1,086,075. This trade represents a 9.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total value of $1,814,215.00. Following the completion of the transaction, the insider now owns 17,390 shares in the company, valued at approximately $3,320,968.30. This trade represents a 35.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,294 shares of company stock worth $2,546,632. Insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

UNF has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. StockNews.com lowered UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $186.25.

UniFirst Company Profile

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.