Cwm LLC Reduces Position in UniFirst Co. (NYSE:UNF)

Cwm LLC cut its position in shares of UniFirst Co. (NYSE:UNF) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,829 shares of the textile maker’s stock after selling 467 shares during the period. Cwm LLC’s holdings in UniFirst were worth $1,066,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of UniFirst during the 3rd quarter worth about $99,000. SRS Capital Advisors Inc. boosted its position in UniFirst by 22.1% in the 3rd quarter. SRS Capital Advisors Inc. now owns 707 shares of the textile maker’s stock valued at $115,000 after buying an additional 128 shares during the period. Wealth Alliance purchased a new stake in UniFirst in the 4th quarter valued at about $224,000. SageView Advisory Group LLC boosted its position in UniFirst by 4.8% in the 3rd quarter. SageView Advisory Group LLC now owns 1,457 shares of the textile maker’s stock valued at $238,000 after buying an additional 67 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in UniFirst in the 3rd quarter valued at about $279,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Stock Performance

Shares of UNF opened at $164.24 on Friday. The company has a 50 day moving average price of $166.83 and a 200-day moving average price of $169.79. UniFirst Co. has a fifty-two week low of $150.50 and a fifty-two week high of $187.22. The stock has a market capitalization of $3.06 billion, a PE ratio of 26.88 and a beta of 0.82.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, March 27th. The textile maker reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.19). UniFirst had a return on equity of 6.19% and a net margin of 4.92%. The business had revenue of $590.71 million during the quarter, compared to analysts’ expectations of $587.56 million. Equities research analysts forecast that UniFirst Co. will post 7.48 EPS for the current year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.80%. UniFirst’s dividend payout ratio (DPR) is presently 21.60%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, EVP William Masters Ross sold 2,282 shares of the business’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 transaction, the executive vice president now owns 4,034 shares in the company, valued at approximately $707,039.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by company insiders.

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.