UniFirst Co. (NYSE:UNF) Shares Sold by Man Group plc

Man Group plc decreased its holdings in UniFirst Co. (NYSE:UNF - Free Report) by 44.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,884 shares of the textile maker's stock after selling 24,811 shares during the quarter. Man Group plc owned 0.17% of UniFirst worth $5,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Independence Bank of Kentucky purchased a new position in shares of UniFirst in the fourth quarter valued at approximately $34,000. Blue Trust Inc. boosted its stake 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 purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC lifted its stake in UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock worth $59,000 after acquiring an additional 247 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock worth $61,000 after acquiring an additional 234 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in UniFirst by 811.5% in the fourth quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock worth $81,000 after acquiring an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird decreased their price target on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. UBS Group lifted their price target on shares of UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Barclays reiterated an "underweight" rating and issued a $152.00 price target (down previously from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $180.00.

UniFirst Stock Performance

UNF stock traded down $1.01 during midday trading on Friday, reaching $183.65. 52,559 shares of the company were exchanged, compared to its average volume of 105,219. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $243.70. The stock's 50-day simple moving average is $179.03 and its 200 day simple moving average is $195.14. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 23.48 and a beta of 0.87.

UniFirst (NYSE:UNF - Get Free Report) last released its quarterly earnings data on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the previous year, the business posted $1.09 EPS. The firm's revenue for the quarter 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 year.

UniFirst Dividend Announcement

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 issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.76%. UniFirst's payout ratio is currently 17.41%.

UniFirst announced that its board has authorized a share repurchase program on Tuesday, April 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the textile maker to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.