UniFirst Co. (NYSE:UNF) Position Increased by Martingale Asset Management L P

Martingale Asset Management L P grew its position in UniFirst Co. (NYSE:UNF) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,348 shares of the textile maker’s stock after buying an additional 130 shares during the quarter. Martingale Asset Management L P’s holdings in UniFirst were worth $2,652,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in UniFirst by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,003 shares of the textile maker’s stock worth $126,418,000 after purchasing an additional 23,069 shares during the period. Victory Capital Management Inc. boosted its position in shares of UniFirst by 5.2% in the third quarter. Victory Capital Management Inc. now owns 654,495 shares of the textile maker’s stock worth $130,015,000 after buying an additional 32,447 shares during the period. Copeland Capital Management LLC grew its holdings in shares of UniFirst by 12.4% during the third quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock valued at $65,989,000 after buying an additional 36,651 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in UniFirst by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 229,749 shares of the textile maker’s stock valued at $45,640,000 after buying an additional 8,587 shares during the period. Finally, American Century Companies Inc. lifted its stake in UniFirst by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock worth $29,729,000 after acquiring an additional 35,604 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Stock Performance

NYSE:UNF opened at $200.87 on Friday. The company has a market capitalization of $3.73 billion, a P/E ratio of 25.85 and a beta of 0.82. The stock’s 50 day moving average price is $192.81 and its 200 day moving average price is $181.09. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $208.20.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. This is an increase from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s dividend payout ratio (DPR) is currently 16.99%.

Insider Activity at UniFirst

In related news, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total value of $1,814,215.00. Following the completion of the sale, the insider now directly owns 17,390 shares in the company, valued at approximately $3,320,968.30. The trade was a 35.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David Martin Katz sold 587 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total value of $113,337.96. Following the transaction, the vice president now owns 5,625 shares in the company, valued at approximately $1,086,075. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,294 shares of company stock valued at $2,546,632. Insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on UNF. StockNews.com cut UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Robert W. Baird upped their price objective on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, UniFirst has an average rating of “Hold” and an average target price of $186.25.

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.