Algert Global LLC Acquires 422 Shares of UniFirst Co. (NYSE:UNF)

Algert Global LLC grew its holdings in UniFirst Co. (NYSE:UNF) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,943 shares of the textile maker’s stock after acquiring an additional 422 shares during the quarter. Algert Global LLC’s holdings in UniFirst were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of UNF. Independence Bank of Kentucky bought a new stake in shares of UniFirst in the fourth quarter valued at approximately $34,000. Blue Trust Inc. boosted its position in shares of UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 210 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock valued at $59,000 after acquiring an additional 247 shares during the period. Jones Financial Companies Lllp boosted its position in shares of UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock valued at $61,000 after acquiring an additional 234 shares during the period. Finally, Sterling Capital Management LLC boosted its position in shares of UniFirst by 811.5% in the fourth quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker’s stock valued at $81,000 after acquiring an additional 422 shares during the period. 78.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP David Martin Katz sold 1,299 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was 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 directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays restated an “underweight” rating and issued a $152.00 target price (down from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Robert W. Baird cut their target price on UniFirst from $218.00 to $197.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, UBS Group upped their target price on UniFirst from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $180.00.

UniFirst Trading Up 0.9%

Shares of NYSE UNF opened at $185.76 on Tuesday. The business has a fifty day simple moving average of $182.17 and a 200 day simple moving average of $195.12. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 23.75 and a beta of 0.87. UniFirst Co. has a one year low of $149.58 and a one year high of $243.70.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company had revenue of $602.20 million for the quarter, compared to analyst estimates of $602.81 million. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that UniFirst Co. will post 7.71 earnings per share for the current fiscal year.

UniFirst announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the textile maker to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

UniFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 0.75%. UniFirst’s dividend payout ratio is currently 17.41%.

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.