MML Investors Services LLC Increases Stock Position in UniFirst Co. (NYSE:UNF)

MML Investors Services LLC raised its holdings in UniFirst Co. (NYSE:UNF) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,231 shares of the textile maker’s stock after purchasing an additional 679 shares during the quarter. MML Investors Services LLC’s holdings in UniFirst were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its holdings in UniFirst by 16.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 52 shares in the last quarter. FMR LLC boosted its holdings in UniFirst by 3.1% in the 3rd quarter. FMR LLC now owns 1,936 shares of the textile maker’s stock valued at $385,000 after purchasing an additional 58 shares in the last quarter. GAMMA Investing LLC boosted its holdings in UniFirst by 60.5% in 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 in the last quarter. Arizona State Retirement System boosted its holdings in UniFirst by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock valued at $726,000 after purchasing an additional 78 shares in the last quarter. Finally, Pullen Investment Management LLC boosted its holdings in UniFirst by 2.9% in 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. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Price Performance

Shares of NYSE:UNF opened at $186.29 on Wednesday. The business’s 50 day simple moving average is $193.26 and its 200-day simple moving average is $184.01. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 23.98 and a beta of 0.84. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $208.20.

UniFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. This is an increase from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, December 6th. UniFirst’s payout ratio is currently 18.02%.

Insider Buying and Selling

In related news, VP David Martin Katz sold 587 shares of UniFirst stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total transaction of $113,337.96. Following the completion of the transaction, the vice president now directly owns 5,625 shares in the company, valued at $1,086,075. The trade was a 9.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven S. Sintros sold 3,207 shares of UniFirst stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.04, for a total value of $619,079.28. Following the transaction, the chief executive officer now owns 22,571 shares of the company’s stock, valued at $4,357,105.84. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,294 shares of company stock worth $2,546,632 in the last ninety days. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com lowered UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 28th. Robert W. Baird boosted their price target on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.