UniFirst Co. (NYSE:UNF) Shares Bought by Stifel Financial Corp

Stifel Financial Corp increased its stake in shares of UniFirst Co. (NYSE:UNF - Free Report) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,167 shares of the textile maker's stock after buying an additional 1,456 shares during the period. Stifel Financial Corp owned about 0.19% of UniFirst worth $6,188,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky bought a new stake in shares of UniFirst during the 4th quarter valued at $34,000. Blue Trust Inc. boosted its stake in shares of UniFirst by 1,105.3% in the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock valued at $39,000 after purchasing an additional 210 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of UniFirst by 252.0% during 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 during the last quarter. Jones Financial Companies Lllp lifted its position in 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. Finally, Sterling Capital Management LLC grew its holdings in UniFirst by 811.5% in the 4th 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. Institutional investors own 78.17% of the company's stock.

UniFirst Price Performance

Shares of NYSE UNF traded up $0.06 during mid-day trading on Friday, reaching $179.88. The company's stock had a trading volume of 61,104 shares, compared to its average volume of 103,760. The firm has a market capitalization of $3.34 billion, a PE ratio of 23.00 and a beta of 0.88. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $243.70. The stock has a fifty day moving average of $185.53 and a two-hundred day moving average of $195.36.

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

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, June 6th. UniFirst's dividend payout ratio is currently 17.41%.

UniFirst declared that its board has approved a stock buyback 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 often an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

UNF has been the subject of a number of research analyst reports. Robert W. Baird dropped their price target on 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 upped 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. Barclays restated 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. Finally, StockNews.com downgraded shares of UniFirst from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $180.00.

Insider Activity

In other news, VP David Martin Katz sold 1,299 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $210.95, for a total value of $274,024.05. Following the completion of the sale, the vice president now owns 6,455 shares of the company's stock, valued at approximately $1,361,682.25. This represents a 16.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company's stock.

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.