Cibc World Markets Corp Purchases New Shares in UniFirst Co. (NYSE:UNF)

Cibc World Markets Corp purchased a new position in UniFirst Co. (NYSE:UNF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,408 shares of the textile maker’s stock, valued at approximately $241,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky acquired a new stake in shares of UniFirst in the fourth quarter valued at about $34,000. Blue Trust Inc. lifted its stake in UniFirst by 1,105.3% in the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock valued at $39,000 after buying an additional 210 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in UniFirst by 252.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after buying an additional 247 shares during the last quarter. Jones Financial Companies Lllp increased its stake in UniFirst by 187.2% during the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock worth $61,000 after buying an additional 234 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of UniFirst by 291.6% during the third quarter. TD Private Client Wealth LLC now owns 466 shares of the textile maker’s stock valued at $93,000 after acquiring an additional 347 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com cut UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. UBS Group reduced their target price on shares of UniFirst from $235.00 to $194.00 and set a “neutral” rating for the company in a research report on Tuesday.

Insider Buying and Selling at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,299 shares of UniFirst stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at $1,361,682.25. The trade was a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by company insiders.

UniFirst Price Performance

UNF stock opened at $169.30 on Wednesday. UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $243.70. The firm has a market capitalization of $3.14 billion, a PE ratio of 21.65 and a beta of 0.89. The business has a 50 day simple moving average of $213.31 and a 200-day simple moving average of $198.98.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, January 8th. The textile maker reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.09. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The business had revenue of $604.91 million during the quarter, compared to the consensus estimate of $606.60 million. During the same period last year, the company earned $2.26 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts expect that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, March 7th. UniFirst’s dividend payout ratio (DPR) is presently 17.90%.

About UniFirst

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.