UniFirst Corp (NYSE:UNF) announced a quarterly dividend on Tuesday, January 9th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.0375 per share by the textile maker on Friday, March 30th. This represents a $0.15 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, March 8th.
UniFirst has a dividend payout ratio of 2.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect UniFirst to earn $6.04 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 2.5%.
Shares of UniFirst (NYSE:UNF) traded down $0.35 during midday trading on Tuesday, reaching $171.15. 42,300 shares of the company traded hands, compared to its average volume of 84,311. UniFirst has a one year low of $124.85 and a one year high of $176.15. The stock has a market cap of $3,472.46, a PE ratio of 46.01, a PEG ratio of 3.16 and a beta of 0.74.
UNF has been the subject of several analyst reports. Zacks Investment Research raised shares of UniFirst from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Tuesday, December 26th. Northcoast Research reissued a “neutral” rating on shares of UniFirst in a research note on Thursday, October 19th. Finally, Robert W. Baird increased their price objective on shares of UniFirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $180.00.
In other UniFirst news, VP David Martin Katz sold 1,060 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $168.15, for a total transaction of $178,239.00. Following the sale, the vice president now directly owns 2,667 shares in the company, valued at approximately $448,456.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael A. Croatti sold 1,216 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $168.99, for a total transaction of $205,491.84. Following the sale, the vice president now owns 3,375 shares in the company, valued at $570,341.25. The disclosure for this sale can be found here. Insiders have sold a total of 2,401 shares of company stock valued at $405,193 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
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UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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