UniFirst Co. (NYSE:UNF) Shares Sold by Oak Family Advisors LLC

Oak Family Advisors LLC cut its stake in UniFirst Co. (NYSE:UNF) by 51.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,375 shares of the textile maker’s stock after selling 1,476 shares during the period. Oak Family Advisors LLC’s holdings in UniFirst were worth $235,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of UniFirst in the 2nd quarter valued at about $412,000. AQR Capital Management LLC boosted its holdings in shares of UniFirst by 86.8% in the second quarter. AQR Capital Management LLC now owns 2,937 shares of the textile maker’s stock valued at $504,000 after acquiring an additional 1,365 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of UniFirst by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 8,229 shares of the textile maker’s stock worth $1,412,000 after acquiring an additional 305 shares during the last quarter. Algert Global LLC acquired a new position in shares of UniFirst in the 2nd quarter valued at $261,000. Finally, Quarry LP raised its position in UniFirst by 1,627.3% in 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. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Price Performance

UniFirst stock opened at $214.35 on Monday. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $243.70. The stock’s 50 day moving average price is $200.13 and its 200 day moving average price is $192.96. The company has a market cap of $3.98 billion, a PE ratio of 27.41 and a beta of 0.89.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The company had revenue of $604.91 million for the quarter, compared to analyst estimates of $606.60 million. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that UniFirst Co. will post 7.63 EPS for the current fiscal year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 0.65%. UniFirst’s payout ratio is 17.90%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group raised their price objective on shares of UniFirst from $190.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. StockNews.com downgraded UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird lifted their target price on UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $197.50.

Insiders Place Their Bets

In other UniFirst news, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $190.97, for a total value of $1,814,215.00. Following the transaction, the insider now directly owns 17,390 shares in the company, valued at approximately $3,320,968.30. This represents a 35.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven S. Sintros sold 3,207 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the transaction, the chief executive officer now directly owns 22,571 shares in the company, valued at $4,357,105.84. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,294 shares of company stock worth $2,546,632. Insiders own 0.86% of the company’s stock.

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.