Thrivent Financial for Lutherans Decreases Stock Holdings in UniFirst Co. (NYSE:UNF)

Thrivent Financial for Lutherans lowered its stake in UniFirst Co. (NYSE:UNF) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,462 shares of the textile maker’s stock after selling 712 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of UniFirst worth $2,476,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in UNF. Quarry LP grew its stake in shares of UniFirst by 1,627.3% during the 2nd quarter. Quarry LP now owns 190 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 179 shares during the period. GAMMA Investing LLC grew its position in UniFirst by 60.5% during the third quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock valued at $36,000 after buying an additional 69 shares during the period. Innealta Capital LLC purchased a new stake in UniFirst during the second quarter valued at approximately $92,000. Eastern Bank purchased a new position in shares of UniFirst during the 3rd quarter worth $109,000. Finally, CIBC Asset Management Inc purchased a new position in shares of UniFirst during the 3rd quarter worth $202,000. Institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In related news, CEO Steven S. Sintros sold 3,207 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.04, for a total transaction of $619,079.28. Following the completion of the transaction, the chief executive officer now owns 22,571 shares in the company, valued at approximately $4,357,105.84. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Martin Katz sold 587 shares of UniFirst stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total transaction of $113,337.96. Following the completion of the sale, the vice president now owns 5,625 shares in the company, valued at approximately $1,086,075. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,294 shares of company stock worth $2,546,632. 0.74% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

UNF has been the subject of several analyst reports. Robert W. Baird upped their price objective on UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. StockNews.com raised UniFirst from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $186.25.

UniFirst Price Performance

Shares of UNF stock opened at $206.22 on Wednesday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 26.55 and a beta of 0.82. The company’s fifty day moving average price is $191.65 and its 200-day moving average price is $180.25. UniFirst Co. has a one year low of $149.58 and a one year high of $208.20.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. UniFirst’s dividend payout ratio (DPR) is currently 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.