Sei Investments Co. Trims Stake in UniFirst Co. (NYSE:UNF)

Sei Investments Co. cut its stake in UniFirst Co. (NYSE:UNF) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,828 shares of the textile maker’s stock after selling 84 shares during the period. Sei Investments Co.’s holdings in UniFirst were worth $3,059,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. M&G Plc purchased a new position in shares of UniFirst in the 1st quarter valued at approximately $19,842,000. Victory Capital Management Inc. lifted its position in UniFirst by 8.9% during the second quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock valued at $106,700,000 after buying an additional 51,088 shares during the period. American Century Companies Inc. boosted its holdings in shares of UniFirst by 25.9% during 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of UniFirst by 43.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 79,625 shares of the textile maker’s stock worth $13,658,000 after acquiring an additional 24,305 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of UniFirst by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,003 shares of the textile maker’s stock worth $126,418,000 after acquiring an additional 23,069 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Insider Activity at UniFirst

In other UniFirst news, Director Michael Iandoli sold 682 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 4,744 shares of the company’s stock, valued at approximately $921,759.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other UniFirst news, Director Michael Iandoli sold 682 shares of UniFirst 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 sale, the director now owns 4,744 shares of the company’s stock, valued at approximately $921,759.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP David Martin Katz sold 550 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $175.00, for a total transaction of $96,250.00. Following the sale, the vice president now owns 6,259 shares of the company’s stock, valued at $1,095,325. The disclosure for this sale can be found here. Insiders have sold 1,457 shares of company stock valued at $269,413 over the last ninety days. Insiders own 0.74% of the company’s stock.

UniFirst Stock Down 1.4 %

Shares of NYSE UNF opened at $197.01 on Friday. The company has a 50 day moving average of $187.75 and a 200 day moving average of $172.94. UniFirst Co. has a twelve month low of $149.58 and a twelve month high of $200.07. The firm has a market cap of $3.68 billion, a P/E ratio of 29.05 and a beta of 0.81.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, September 6th. UniFirst’s payout ratio is currently 19.27%.

Analyst Upgrades and Downgrades

UNF has been the topic of a number of recent research reports. StockNews.com upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a report on Monday, August 12th. UBS Group raised their price objective on UniFirst from $186.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Robert W. Baird boosted their target price on UniFirst from $185.00 to $199.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their price target on UniFirst from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $186.00.

UniFirst 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.