QRG Capital Management Inc. Boosts Stake in UniFirst Co. (NYSE:UNF)

QRG Capital Management Inc. boosted its stake in shares of UniFirst Co. (NYSE:UNF) by 20.1% in the third quarter, Holdings Channel reports. The institutional investor owned 3,221 shares of the textile maker’s stock after acquiring an additional 540 shares during the period. QRG Capital Management Inc.’s holdings in UniFirst were worth $640,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of UNF. GAMMA Investing LLC lifted its holdings in shares of UniFirst by 60.5% during the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 69 shares during the last quarter. Quarry LP lifted its holdings in shares of UniFirst by 1,627.3% during the 2nd quarter. Quarry LP now owns 190 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 179 shares during the last quarter. Covestor Ltd lifted its holdings in shares of UniFirst by 69.7% during the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker’s stock valued at $72,000 after purchasing an additional 170 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of UniFirst during the 2nd quarter valued at $92,000. Finally, Eastern Bank purchased a new stake in shares of UniFirst during the 3rd quarter valued at $109,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Stock Performance

Shares of UNF opened at $200.73 on Friday. The business’s 50-day moving average is $188.90 and its two-hundred day moving average is $177.41. The company has a market capitalization of $3.74 billion, a P/E ratio of 25.83 and a beta of 0.82. UniFirst Co. has a fifty-two week low of $149.58 and a fifty-two week high of $201.51.

UniFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. UniFirst’s dividend payout ratio (DPR) is 16.99%.

Wall Street Analyst Weigh In

Several analysts have recently commented on UNF shares. Robert W. Baird increased their price objective on UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. StockNews.com raised UniFirst from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, UniFirst presently has an average rating of “Hold” and a consensus target price 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.