Barclays PLC Sells 13,235 Shares of UniFirst Co. (NYSE:UNF)

Barclays PLC trimmed its position in shares of UniFirst Co. (NYSE:UNF - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,985 shares of the textile maker's stock after selling 13,235 shares during the period. Barclays PLC owned 0.15% of UniFirst worth $4,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UNF. Norges Bank purchased a new stake in shares of UniFirst during the 4th quarter valued at approximately $31,133,000. Raymond James Financial Inc. bought a new position in shares of UniFirst in the fourth quarter worth $24,576,000. Copeland Capital Management LLC grew its position in shares of UniFirst by 9.9% in the fourth quarter. Copeland Capital Management LLC now owns 365,047 shares of the textile maker's stock valued at $62,456,000 after purchasing an additional 32,860 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of UniFirst by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 387,326 shares of the textile maker's stock valued at $66,268,000 after purchasing an additional 20,056 shares during the period. Finally, American Century Companies Inc. lifted its holdings in UniFirst by 9.2% during the 4th quarter. American Century Companies Inc. now owns 189,235 shares of the textile maker's stock worth $32,376,000 after purchasing an additional 16,022 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

UniFirst Stock Up 0.7 %

NYSE:UNF traded up $1.31 during midday trading on Thursday, hitting $179.78. The company had a trading volume of 44,973 shares, compared to its average volume of 103,676. The company has a market capitalization of $3.34 billion, a PE ratio of 22.99 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's fifty day moving average price is $186.80 and its 200-day moving average price is $195.50.

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

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

UniFirst Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, June 6th. UniFirst's dividend payout ratio is presently 17.41%.

Insider Buying and Selling at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,299 shares of the firm's stock in a transaction 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 sale, the vice president now owns 6,455 shares of the company's stock, valued at $1,361,682.25. This trade represents a 16.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UNF. StockNews.com lowered UniFirst from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Robert W. Baird decreased 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. Barclays reiterated an "underweight" rating and issued a $152.00 target price (down from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Finally, UBS Group boosted their price target on shares of UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $180.00.

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.