Nisa Investment Advisors LLC Lowers Stake in UniFirst Co. (NYSE:UNF)

Nisa Investment Advisors LLC cut its stake in UniFirst Co. (NYSE:UNF) by 4.2% during the third quarter, HoldingsChannel reports. The firm owned 6,457 shares of the textile maker’s stock after selling 285 shares during the period. Nisa Investment Advisors LLC’s holdings in UniFirst were worth $1,283,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in UniFirst by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Arizona State Retirement System increased its holdings in UniFirst by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock worth $726,000 after purchasing an additional 78 shares during the period. Pullen Investment Management LLC raised its position in UniFirst by 2.9% during the 2nd quarter. Pullen Investment Management LLC now owns 2,806 shares of the textile maker’s stock valued at $481,000 after purchasing an additional 79 shares in the last quarter. Oak Family Advisors LLC lifted its holdings in shares of UniFirst by 3.3% in the 2nd 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 grew its position in shares of UniFirst by 1.3% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Price Performance

Shares of UNF stock opened at $179.88 on Monday. The stock’s 50-day moving average is $188.64 and its 200 day moving average is $176.28. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $200.07. The company has a market cap of $3.35 billion, a P/E ratio of 23.15 and a beta of 0.82.

UniFirst Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a $0.35 dividend. 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%. This is an increase from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s payout ratio is presently 16.99%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on UNF shares. StockNews.com upgraded UniFirst from a “hold” rating to a “buy” rating in a report on Monday, August 12th. Robert W. Baird boosted their price target on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, UniFirst presently has a consensus 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.