Meeder Asset Management Inc. Raises Stock Position in UniFirst Co. (NYSE:UNF)

Meeder Asset Management Inc. raised its holdings in UniFirst Co. (NYSE:UNF) by 419.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 628 shares of the textile maker’s stock after acquiring an additional 507 shares during the period. Meeder Asset Management Inc.’s holdings in UniFirst were worth $107,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of UniFirst in the 4th quarter valued at about $31,133,000. Raymond James Financial Inc. acquired a new position in UniFirst in the fourth quarter valued at approximately $24,576,000. Barclays PLC boosted its position in UniFirst by 464.6% in the 3rd quarter. Barclays PLC now owns 41,220 shares of the textile maker’s stock worth $8,188,000 after purchasing an additional 33,919 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of UniFirst by 9.9% during the 4th quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker’s stock worth $62,456,000 after purchasing an additional 32,860 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of UniFirst by 173.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 47,968 shares of the textile maker’s stock valued at $9,529,000 after purchasing an additional 30,458 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP David Martin Katz sold 1,299 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 6,455 shares in the company, valued at $1,361,682.25. This trade represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.86% of the stock is currently owned by insiders.

UniFirst Price Performance

Shares of UNF stock opened at $175.07 on Wednesday. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $243.70. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 22.39 and a beta of 0.89. The stock has a 50 day simple moving average of $208.08 and a 200-day simple moving average of $198.63.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, January 8th. The textile maker reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The company had revenue of $604.91 million during the quarter, compared to analysts’ expectations of $606.60 million. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that UniFirst Co. will post 7.71 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, March 7th. UniFirst’s payout ratio is 17.90%.

Analyst Ratings Changes

A number of analysts recently issued reports on UNF shares. UBS Group lowered their price target on shares of UniFirst from $235.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. StockNews.com lowered shares of UniFirst from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th.

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.