Moran Wealth Management LLC Increases Stock Position in UniFirst Co. (NYSE:UNF)

Moran Wealth Management LLC lifted its holdings in UniFirst Co. (NYSE:UNF) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 23,533 shares of the textile maker’s stock after purchasing an additional 482 shares during the period. Moran Wealth Management LLC owned about 0.13% of UniFirst worth $4,675,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. First Horizon Advisors Inc. lifted its position in UniFirst by 16.5% during the third quarter. First Horizon Advisors Inc. now owns 367 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 52 shares during the last quarter. GAMMA Investing LLC increased its stake in UniFirst by 60.5% during the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Arizona State Retirement System increased its stake in shares of UniFirst by 1.9% in the second quarter. Arizona State Retirement System now owns 4,231 shares of the textile maker’s stock worth $726,000 after acquiring an additional 78 shares during the period. Pullen Investment Management LLC increased its stake in shares of UniFirst by 2.9% in the second quarter. Pullen Investment Management LLC now owns 2,806 shares of the textile maker’s stock worth $481,000 after acquiring an additional 79 shares during the period. Finally, Oak Family Advisors LLC increased its stake in shares of UniFirst by 3.3% in the second quarter. Oak Family Advisors LLC now owns 2,915 shares of the textile maker’s stock worth $500,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Stock Down 0.6 %

UNF opened at $191.63 on Thursday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 24.66 and a beta of 0.82. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $205.38. The firm’s fifty day simple moving average is $190.90 and its two-hundred day simple moving average is $179.37.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. This is an increase from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, December 6th. UniFirst’s dividend payout ratio (DPR) is currently 16.99%.

Analysts Set New Price Targets

UNF has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of UniFirst from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $186.25.

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.