Moran Wealth Management LLC Has $4.06 Million Holdings in Unifirst Corporation $UNF

Key Points

• Moran Wealth Management LLC decreased its stake in UniFirst Corporation by 6.7%, holding approximately $4.06 million in the company as of their latest SEC filing.
• Analysts have given UniFirst an average rating of "Reduce" with a consensus target price of $179.50, while notable firms like JPMorgan and Barclays have set price targets ranging from $152.00 to $197.00.
• The company recently declared a quarterly dividend of $0.35, representing an annualized yield of 0.9% and a dividend payout ratio of 17.20%.

Moran Wealth Management LLC cut its stake in Unifirst Corporation (NYSE:UNF - Free Report) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,547 shares of the textile maker's stock after selling 1,535 shares during the period. Moran Wealth Management LLC owned about 0.12% of Unifirst worth $4,056,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of UNF. Geneos Wealth Management Inc. grew its position in Unifirst by 474.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock worth $27,000 after acquiring an additional 128 shares during the last quarter. GAMMA Investing LLC grew its position in Unifirst by 59.9% during the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock worth $39,000 after acquiring an additional 85 shares during the last quarter. Fifth Third Bancorp grew its position in Unifirst by 88.7% during the 1st quarter. Fifth Third Bancorp now owns 266 shares of the textile maker's stock worth $46,000 after acquiring an additional 125 shares during the last quarter. PenderFund Capital Management Ltd. bought a new stake in Unifirst during the 1st quarter worth approximately $70,000. Finally, Vestcor Inc bought a new stake in Unifirst during the 1st quarter worth approximately $87,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on UNF shares. JPMorgan Chase & Co. began coverage on Unifirst in a research report on Monday, July 14th. They set an "underweight" rating and a $175.00 price target on the stock. Robert W. Baird set a $197.00 price objective on Unifirst in a research report on Monday, June 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Unifirst in a research report on Wednesday, October 8th. Barclays set a $152.00 price objective on Unifirst and gave the company an "underweight" rating in a research report on Monday, June 30th. Finally, UBS Group decreased their price objective on Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a research report on Monday, June 30th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Unifirst presently has an average rating of "Reduce" and a consensus target price of $179.50.

Unifirst Stock Up 3.0%

UNF stock opened at $163.25 on Wednesday. The business's fifty day moving average is $171.41 and its 200-day moving average is $176.38. The company has a market cap of $3.03 billion, a P/E ratio of 20.06 and a beta of 0.86. Unifirst Corporation has a twelve month low of $156.21 and a twelve month high of $243.70.

Unifirst Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Unifirst's dividend payout ratio is 17.20%.

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.

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