UniFirst Co. (NYSE:UNF) Director Michael Iandoli Sells 682 Shares

UniFirst Co. (NYSE:UNF) Director Michael Iandoli sold 682 shares of the 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 directly owns 4,744 shares of the company’s stock, valued at approximately $921,759.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

UniFirst Stock Performance

UNF traded down $2.68 during trading hours on Friday, reaching $189.05. The company’s stock had a trading volume of 85,903 shares, compared to its average volume of 91,225. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $197.88. The company’s 50-day moving average is $169.08 and its 200-day moving average is $167.78. The firm has a market cap of $3.52 billion, a PE ratio of 27.60 and a beta of 0.81.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, June 26th. The textile maker reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.31. The firm had revenue of $603.33 million for the quarter, compared to analysts’ expectations of $600.97 million. UniFirst had a return on equity of 6.93% and a net margin of 5.44%. Equities analysts anticipate that UniFirst Co. will post 7.83 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, September 6th. UniFirst’s payout ratio is 19.27%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UNF. BNP Paribas Financial Markets boosted its stake in UniFirst by 336.5% in the first quarter. BNP Paribas Financial Markets now owns 18,582 shares of the textile maker’s stock valued at $3,223,000 after buying an additional 14,325 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in UniFirst in the first quarter valued at about $693,000. Quantbot Technologies LP acquired a new stake in UniFirst in the first quarter valued at about $479,000. M&G Plc acquired a new stake in UniFirst in the first quarter valued at about $19,842,000. Finally, SRS Capital Advisors Inc. boosted its stake in UniFirst by 16.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 825 shares of the textile maker’s stock valued at $151,000 after buying an additional 118 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com downgraded UniFirst from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Robert W. Baird increased 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. JPMorgan Chase & Co. increased their price target on UniFirst from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, June 27th. Finally, UBS Group increased their price target on UniFirst from $186.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $186.00.

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.