UniFirst Co. (NYSE:UNF) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in shares of UniFirst Co. (NYSE:UNF) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,584 shares of the textile maker’s stock after selling 227 shares during the period. MetLife Investment Management LLC’s holdings in UniFirst were worth $1,705,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC grew its position in UniFirst by 67.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 6,704 shares of the textile maker’s stock worth $1,150,000 after purchasing an additional 2,707 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of UniFirst by 164.2% during the third quarter. Harbor Capital Advisors Inc. now owns 8,387 shares of the textile maker’s stock valued at $1,666,000 after buying an additional 5,213 shares during the last quarter. XTX Topco Ltd increased its position in shares of UniFirst by 255.1% in the 2nd quarter. XTX Topco Ltd now owns 4,542 shares of the textile maker’s stock valued at $779,000 after acquiring an additional 3,263 shares during the period. Victory Capital Management Inc. lifted its position 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 period. Finally, Sanctuary Advisors LLC purchased a new stake in UniFirst during the 2nd quarter valued at about $471,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Stock Down 2.0 %

Shares of UNF opened at $196.40 on Friday. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 25.28 and a beta of 0.84. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $208.20. The stock’s 50-day moving average price is $193.55 and its 200-day moving average price is $182.01.

UniFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, December 6th. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s dividend payout ratio is currently 18.02%.

Insider Activity

In other news, CEO Steven S. Sintros sold 3,207 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the sale, the chief executive officer now directly owns 22,571 shares of the company’s stock, valued at $4,357,105.84. This represents a 12.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Martin Katz sold 587 shares of UniFirst stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total value of $113,337.96. Following the completion of the transaction, the vice president now owns 5,625 shares of the company’s stock, valued at approximately $1,086,075. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,294 shares of company stock valued at $2,546,632 in the last three months. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on UNF shares. Robert W. Baird raised their price objective on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. StockNews.com cut shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $186.25.

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.