Cambridge Trust Co. Sells 474 Shares of UniFirst Co. (NYSE:UNF)

Cambridge Trust Co. lowered its stake in UniFirst Co. (NYSE:UNF) by 46.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 548 shares of the textile maker’s stock after selling 474 shares during the quarter. Cambridge Trust Co.’s holdings in UniFirst were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in UNF. Norges Bank purchased a new stake in shares of UniFirst in the fourth quarter worth $28,362,000. M&G Plc purchased a new stake in UniFirst during the 1st quarter valued at approximately $19,842,000. Assenagon Asset Management S.A. raised its position in shares of UniFirst by 1,555.8% during the first quarter. Assenagon Asset Management S.A. now owns 55,320 shares of the textile maker’s stock valued at $9,594,000 after buying an additional 51,979 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of UniFirst by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 446,335 shares of the textile maker’s stock worth $81,639,000 after acquiring an additional 21,685 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of UniFirst by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,973 shares of the textile maker’s stock worth $124,193,000 after acquiring an additional 21,115 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Trading Down 1.4 %

Shares of UNF stock traded down $2.61 during trading hours on Friday, reaching $189.12. 85,903 shares of the company’s stock were exchanged, compared to its average volume of 105,166. UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $197.88. The stock has a market cap of $3.53 billion, a PE ratio of 27.61 and a beta of 0.81. The stock’s fifty day moving average price is $169.08 and its two-hundred day moving average price is $167.79.

UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, June 26th. The textile maker reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.31. The firm had revenue of $603.33 million for the quarter, compared to analyst estimates of $600.97 million. UniFirst had a return on equity of 6.93% and a net margin of 5.44%. On average, equities analysts expect that UniFirst Co. will post 7.83 EPS for the current fiscal year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.33 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.32 annualized dividend and a dividend yield of 0.70%. UniFirst’s dividend payout ratio is presently 19.27%.

Insider Transactions at UniFirst

In other news, major shareholder Cecelia Levenstein sold 5,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $155.76, for a total value of $856,680.00. Following the completion of the sale, the insider now directly owns 68,058 shares of the company’s stock, valued at $10,600,714.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Cecelia Levenstein sold 5,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $155.76, for a total value of $856,680.00. Following the sale, the insider now directly owns 68,058 shares in the company, valued at approximately $10,600,714.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Martin Katz sold 550 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $175.00, for a total transaction of $96,250.00. Following the completion of the transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at approximately $1,095,325. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,490 shares of company stock valued at $4,668,295. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. JPMorgan Chase & Co. increased their price target on UniFirst from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, June 27th. UBS Group raised their price target on UniFirst from $186.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Finally, Robert W. Baird upped their price objective on UniFirst from $185.00 to $199.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $186.00.

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.