Eagle Asset Management Inc. Has $6.93 Million Holdings in UniFirst Co. (NYSE:UNF)

Eagle Asset Management Inc. trimmed its holdings in shares of UniFirst Co. (NYSE:UNF) by 19.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,541 shares of the textile maker’s stock after selling 8,547 shares during the quarter. Eagle Asset Management Inc.’s holdings in UniFirst were worth $6,933,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of UniFirst by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 229,749 shares of the textile maker’s stock worth $45,640,000 after purchasing an additional 8,587 shares during the last quarter. Intech Investment Management LLC increased its stake in UniFirst by 97.8% in the third quarter. Intech Investment Management LLC now owns 2,860 shares of the textile maker’s stock valued at $568,000 after acquiring an additional 1,414 shares during the period. Moran Wealth Management LLC grew its stake in shares of UniFirst by 2.1% in the 3rd quarter. Moran Wealth Management LLC now owns 23,533 shares of the textile maker’s stock valued at $4,675,000 after purchasing an additional 482 shares during the period. First Horizon Advisors Inc. raised its stake in UniFirst by 16.5% during the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock worth $73,000 after acquiring an additional 52 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of UniFirst by 148.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,454 shares of the textile maker’s stock worth $1,282,000 after purchasing an additional 3,860 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Steven S. Sintros sold 3,207 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the completion of the transaction, the chief executive officer now directly owns 22,571 shares in the company, valued at approximately $4,357,105.84. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $190.97, for a total value of $1,814,215.00. Following the sale, the insider now directly owns 17,390 shares in the company, valued at approximately $3,320,968.30. This trade represents a 35.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,294 shares of company stock worth $2,546,632. 0.74% of the stock is currently owned by company insiders.

UniFirst Price Performance

Shares of UniFirst stock opened at $200.23 on Monday. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 25.77 and a beta of 0.82. The business has a fifty day simple moving average of $191.32 and a two-hundred day simple moving average of $179.99. UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $205.38.

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 paid a $0.35 dividend. This is a boost from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, December 6th. UniFirst’s payout ratio is 18.02%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UNF. StockNews.com upgraded shares of UniFirst from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Robert W. Baird increased their target price on UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.