Cubist Systematic Strategies LLC Acquires 31,583 Shares of UniFirst Co. (NYSE:UNF)

Cubist Systematic Strategies LLC raised its stake in UniFirst Co. (NYSE:UNF) by 305.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 41,936 shares of the textile maker’s stock after acquiring an additional 31,583 shares during the period. Cubist Systematic Strategies LLC’s holdings in UniFirst were worth $7,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in UniFirst in the 4th quarter valued at $28,362,000. M&G Plc acquired a new position in shares of UniFirst during the first quarter worth about $19,842,000. Victory Capital Management Inc. grew its holdings in shares of UniFirst by 8.9% during the second quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock worth $106,700,000 after buying an additional 51,088 shares in the last quarter. American Century Companies Inc. raised its position in UniFirst by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock valued at $29,729,000 after buying an additional 35,604 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in UniFirst by 43.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 79,625 shares of the textile maker’s stock valued at $13,658,000 after acquiring an additional 24,305 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling at UniFirst

In other news, Director Michael Iandoli sold 682 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $921,759.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other UniFirst news, EVP William Masters Ross sold 225 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $180.67, for a total transaction of $40,650.75. Following the completion of the transaction, the executive vice president now owns 4,034 shares of the company’s stock, valued at $728,822.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Iandoli sold 682 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 4,744 shares in the company, valued at $921,759.20. The disclosure for this sale can be found here. Insiders sold 1,457 shares of company stock valued at $269,413 in the last three months. Corporate insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on UNF. StockNews.com upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a report on Monday, August 12th. UBS Group boosted their price target 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. Robert W. Baird raised their price objective on UniFirst from $185.00 to $199.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. upped their target price on UniFirst from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, June 27th. One equities 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 company’s stock. According to data from MarketBeat, UniFirst presently has a consensus rating of “Hold” and a consensus target price of $186.00.

UniFirst Trading Up 0.9 %

Shares of NYSE UNF opened at $191.87 on Friday. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $197.88. The stock has a 50 day moving average of $187.00 and a 200-day moving average of $172.23. The company has a market capitalization of $3.57 billion, a P/E ratio of 28.01 and a beta of 0.81.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, June 26th. The textile maker reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.31. The company had revenue of $603.33 million for the quarter, compared to analyst estimates of $600.97 million. UniFirst had a return on equity of 6.93% and a net margin of 5.44%. Analysts predict that UniFirst Co. will post 7.83 EPS for the current fiscal year.

UniFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a yield of 0.69%. UniFirst’s dividend payout ratio (DPR) is presently 19.27%.

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.