UniFirst Co. (NYSE:UNF) Holdings Boosted by Swiss National Bank

Swiss National Bank grew its holdings in UniFirst Co. (NYSE:UNF) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 29,600 shares of the textile maker’s stock after purchasing an additional 200 shares during the period. Swiss National Bank’s holdings in UniFirst were worth $5,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Copeland Capital Management LLC lifted its stake in UniFirst by 9.9% in the 4th quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker’s stock worth $62,456,000 after acquiring an additional 32,860 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of UniFirst by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 349,298 shares of the textile maker’s stock valued at $69,401,000 after purchasing an additional 4,136 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of UniFirst by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,308 shares of the textile maker’s stock worth $40,601,000 after purchasing an additional 7,559 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of UniFirst during the fourth quarter worth approximately $24,576,000. Finally, Bank of New York Mellon Corp grew its position in UniFirst by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 127,700 shares of the textile maker’s stock valued at $21,848,000 after purchasing an additional 2,198 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Stock Down 0.4 %

Shares of UniFirst stock opened at $196.35 on Tuesday. The stock has a 50 day moving average price of $214.43 and a two-hundred day moving average price of $199.07. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $243.70. The stock has a market capitalization of $3.65 billion, a P/E ratio of 25.11 and a beta of 0.89.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The business had revenue of $604.91 million for the quarter, compared to analyst estimates of $606.60 million. During the same period in the previous year, the company posted $2.26 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts anticipate that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.35 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 0.71%. UniFirst’s dividend payout ratio is 17.90%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on UNF shares. StockNews.com downgraded shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. UBS Group increased their price objective on UniFirst from $190.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th.

Insider Transactions at UniFirst

In related news, VP David Martin Katz sold 1,299 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares in the company, valued at approximately $1,361,682.25. This trade represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

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.