Aigen Investment Management LP Lowers Stock Holdings in UniFirst Co. (NYSE:UNF)

Aigen Investment Management LP reduced its stake in UniFirst Co. (NYSE:UNF) by 52.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,174 shares of the textile maker’s stock after selling 1,298 shares during the period. Aigen Investment Management LP’s holdings in UniFirst were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WCM Investment Management LLC raised its holdings in shares of UniFirst by 2.7% in the third quarter. WCM Investment Management LLC now owns 110,646 shares of the textile maker’s stock valued at $21,287,000 after acquiring an additional 2,952 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of UniFirst in the 3rd quarter valued at about $287,000. Atria Investments Inc lifted its position in shares of UniFirst by 4.9% in the 3rd quarter. Atria Investments Inc now owns 6,905 shares of the textile maker’s stock worth $1,372,000 after purchasing an additional 322 shares during the period. M&G PLC boosted its stake in shares of UniFirst by 1.2% during the third quarter. M&G PLC now owns 111,928 shares of the textile maker’s stock valued at $22,274,000 after purchasing an additional 1,344 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in UniFirst by 20.1% during the third quarter. QRG Capital Management Inc. now owns 3,221 shares of the textile maker’s stock valued at $640,000 after buying an additional 540 shares during the period. Institutional investors own 78.17% of the company’s stock.

UniFirst Trading Down 0.5 %

NYSE UNF opened at $196.02 on Friday. The firm’s fifty day simple moving average is $190.21 and its two-hundred day simple moving average is $178.66. The firm has a market capitalization of $3.65 billion, a P/E ratio of 25.23 and a beta of 0.82. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $205.38.

UniFirst Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.71%. This is an increase from UniFirst’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, December 6th. UniFirst’s payout ratio is 16.99%.

Wall Street Analysts Forecast Growth

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

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.