UniFirst Co. (NYSE:UNF) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its position in UniFirst Co. (NYSE:UNF) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,222 shares of the textile maker’s stock after selling 78 shares during the quarter. Arizona State Retirement System’s holdings in UniFirst were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in UNF. Morgan Stanley increased its stake in shares of UniFirst by 242.5% in the fourth quarter. Morgan Stanley now owns 346,190 shares of the textile maker’s stock valued at $66,811,000 after purchasing an additional 245,102 shares during the period. Norges Bank acquired a new stake in shares of UniFirst in the fourth quarter valued at approximately $27,552,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of UniFirst in the fourth quarter valued at approximately $26,359,000. Victory Capital Management Inc. increased its stake in shares of UniFirst by 14.6% in the fourth quarter. Victory Capital Management Inc. now owns 484,859 shares of the textile maker’s stock valued at $93,573,000 after purchasing an additional 61,624 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of UniFirst by 42.7% in the third quarter. Envestnet Asset Management Inc. now owns 114,520 shares of the textile maker’s stock valued at $18,668,000 after purchasing an additional 34,279 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Stock Performance

Shares of NYSE:UNF opened at $156.15 on Thursday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 25.56 and a beta of 0.82. UniFirst Co. has a 1-year low of $150.50 and a 1-year high of $187.22. The company has a 50 day moving average price of $168.26 and a 200 day moving average price of $169.70.

UniFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, June 7th. UniFirst’s payout ratio is 21.60%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UNF. StockNews.com cut shares of UniFirst from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Robert W. Baird reiterated a “neutral” rating and issued a $185.00 price objective on shares of UniFirst in a report on Thursday, January 4th. Barclays increased their price objective on shares of UniFirst from $160.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Finally, UBS Group increased their price objective on shares of UniFirst from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.75.

Insider Buying and Selling

In related news, EVP William Masters Ross sold 2,282 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $175.27, for a total transaction of $399,966.14. Following the completion of the sale, the executive vice president now directly owns 4,034 shares in the company, valued at $707,039.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.74% of the stock is currently owned by insiders.

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.