Insider Selling: UniFirst Corp (UNF) VP Sells 1,202 Shares of Stock
UniFirst Corp (NYSE:UNF) VP Michael A. Croatti sold 1,202 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $170.26, for a total value of $204,652.52. Following the completion of the transaction, the vice president now directly owns 4,420 shares in the company, valued at approximately $752,549.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of UniFirst Corp (NYSE UNF) traded down $2.60 during trading on Friday, reaching $167.90. The company’s stock had a trading volume of 56,700 shares, compared to its average volume of 78,342. UniFirst Corp has a 52-week low of $124.85 and a 52-week high of $176.15. The firm has a market cap of $3,470.00, a P/E ratio of 44.89, a P/E/G ratio of 3.15 and a beta of 0.74.
UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, January 3rd. The textile maker reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.19. UniFirst had a return on equity of 7.72% and a net margin of 4.69%. The firm had revenue of $415.80 million during the quarter, compared to the consensus estimate of $404.60 million. During the same period last year, the business posted $1.38 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. research analysts forecast that UniFirst Corp will post 5.41 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.0375 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.15 dividend on an annualized basis and a yield of 0.09%. UniFirst’s payout ratio is currently 4.01%.
A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in UniFirst by 0.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,105 shares of the textile maker’s stock worth $577,000 after acquiring an additional 36 shares during the period. Amalgamated Bank grew its holdings in UniFirst by 2.0% during the 2nd quarter. Amalgamated Bank now owns 2,086 shares of the textile maker’s stock worth $294,000 after acquiring an additional 40 shares during the period. Martin & Co. Inc. TN grew its holdings in UniFirst by 1.2% during the 2nd quarter. Martin & Co. Inc. TN now owns 9,499 shares of the textile maker’s stock worth $1,337,000 after acquiring an additional 115 shares during the period. M&T Bank Corp grew its holdings in UniFirst by 9.0% during the 2nd quarter. M&T Bank Corp now owns 3,868 shares of the textile maker’s stock worth $544,000 after acquiring an additional 321 shares during the period. Finally, Rhumbline Advisers grew its holdings in UniFirst by 1.3% during the 3rd quarter. Rhumbline Advisers now owns 34,040 shares of the textile maker’s stock worth $5,157,000 after acquiring an additional 432 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.
UNF has been the subject of several analyst reports. Zacks Investment Research raised UniFirst from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a research report on Tuesday, December 26th. Northcoast Research reaffirmed a “neutral” rating on shares of UniFirst in a research report on Thursday, October 19th. Finally, Robert W. Baird raised their target price on UniFirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th.
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UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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