State of New Jersey Common Pension Fund D Reduces Holdings in UniFirst Co. (NYSE:UNF)

State of New Jersey Common Pension Fund D decreased its position in shares of UniFirst Co. (NYSE:UNF) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,559 shares of the textile maker’s stock after selling 633 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of UniFirst worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in UNF. M&G Plc purchased a new stake in UniFirst in the 1st quarter worth about $19,842,000. Victory Capital Management Inc. raised its holdings in shares of UniFirst by 8.9% in the second quarter. Victory Capital Management Inc. now owns 622,048 shares of the textile maker’s stock worth $106,700,000 after buying an additional 51,088 shares during the period. Copeland Capital Management LLC lifted its stake in shares of UniFirst by 12.4% during the 3rd quarter. Copeland Capital Management LLC now owns 332,187 shares of the textile maker’s stock worth $65,989,000 after acquiring an additional 36,651 shares during the last quarter. American Century Companies Inc. boosted its holdings in UniFirst by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 173,315 shares of the textile maker’s stock valued at $29,729,000 after acquiring an additional 35,604 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in UniFirst by 305.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 41,936 shares of the textile maker’s stock valued at $7,193,000 after acquiring an additional 31,583 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. Robert W. Baird upped their target price on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $186.25.

UniFirst Price Performance

NYSE:UNF opened at $196.02 on Friday. UniFirst Co. has a 1-year low of $149.58 and a 1-year high of $205.38. The company has a 50-day moving average of $190.21 and a 200 day moving average of $178.53. The firm has a market cap of $3.65 billion, a PE ratio of 25.23 and a beta of 0.82.

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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s dividend payout ratio is presently 16.99%.

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.