UniFirst Co. (NYSE:UNF) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its position in UniFirst Co. (NYSE:UNF - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 263,322 shares of the textile maker's stock after buying an additional 12,598 shares during the period. Northern Trust Corp owned about 1.42% of UniFirst worth $45,052,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of UNF. Independence Bank of Kentucky bought a new stake in UniFirst during the 4th quarter valued at approximately $34,000. Blue Trust Inc. grew its holdings in UniFirst by 1,105.3% during the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock valued at $39,000 after buying an additional 210 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 worth $59,000 after buying an additional 247 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of UniFirst by 187.2% during 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 grew its stake in UniFirst by 811.5% during 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 in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

UNF has been the subject of several research reports. UBS Group increased their price objective on shares of UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Barclays reaffirmed an "underweight" rating and issued a $152.00 price objective (down previously from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Finally, Robert W. Baird lowered their target price on UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $180.00.

Insiders Place Their Bets

In other UniFirst news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction dated 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. The trade was a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.86% of the company's stock.

UniFirst Stock Up 0.1 %

NYSE UNF traded up $0.25 during trading hours on Friday, hitting $183.78. 69,559 shares of the company were exchanged, compared to its average volume of 104,700. The stock has a market cap of $3.41 billion, a PE ratio of 23.50 and a beta of 0.87. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $243.70. The stock has a 50-day moving average price of $182.66 and a 200 day moving average price of $195.13.

UniFirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The textile maker reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The firm had revenue of $602.20 million for the quarter, compared to the consensus estimate of $602.81 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The business's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, June 6th. UniFirst's dividend payout ratio is presently 17.41%.

UniFirst declared that its Board of Directors has authorized a stock buyback program on Tuesday, April 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the textile maker to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

UniFirst 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.