UniFirst Co. (NYSE:UNF) Stock Holdings Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its stake in UniFirst Co. (NYSE:UNF - Free Report) by 22.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,452 shares of the textile maker's stock after acquiring an additional 1,917 shares during the period. Harbor Capital Advisors Inc. owned 0.06% of UniFirst worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of UNF. Blue Trust Inc. boosted its stake in shares of UniFirst by 1,105.3% during the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after buying an additional 210 shares during the period. Smartleaf Asset Management LLC increased its holdings in 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 buying an additional 247 shares in the last quarter. Jones Financial Companies Lllp grew 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 purchasing an additional 234 shares during the last quarter. Sterling Capital Management LLC grew 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 purchasing an additional 422 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of UniFirst in the fourth quarter valued at approximately $104,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on UNF shares. UBS Group raised their target price on shares of UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Robert W. Baird reduced their target price on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Barclays restated an "underweight" rating and set a $152.00 target price (down previously from $180.00) on shares of UniFirst in a report on Friday, April 4th. Two equities 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 stock. According to MarketBeat.com, UniFirst presently has an average rating of "Hold" and a consensus target price of $180.00.

UniFirst Stock Down 1.7%

Shares of UNF traded down $3.23 during midday trading on Friday, hitting $184.31. The company had a trading volume of 103,131 shares, compared to its average volume of 106,119. The company's 50 day moving average price is $181.46 and its 200 day moving average price is $193.94. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 23.57 and a beta of 0.87. UniFirst Co. has a 52 week low of $150.83 and a 52 week high of $243.70.

UniFirst (NYSE:UNF - Get Free Report) last announced 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 net margin of 6.00% and a return on equity of 7.40%. The business had revenue of $602.20 million for the quarter, compared to the consensus estimate of $602.81 million. During the same period in the prior year, the company earned $1.09 EPS. UniFirst's quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that UniFirst Co. will post 7.71 EPS for the current fiscal year.

UniFirst Dividend Announcement

The company also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, June 6th. UniFirst's payout ratio is 17.41%.

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

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.