Victory Capital Management Inc. Has $130.02 Million Stock Position in UniFirst Co. (NYSE:UNF)

by · The Markets Daily

Victory Capital Management Inc. boosted its stake in shares of UniFirst Co. (NYSE:UNF – Free Report) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 654,495 shares of the textile maker’s stock after buying an additional 32,447 shares during the quarter. Victory Capital Management Inc.’s holdings in UniFirst were worth $130,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of UNF. Quarry LP raised its position in shares of UniFirst by 1,627.3% during the second quarter. Quarry LP now owns 190 shares of the textile maker’s stock valued at $33,000 after buying an additional 179 shares during the last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 69 shares during the period. Covestor Ltd raised its holdings in UniFirst by 69.7% in the 1st quarter. Covestor Ltd now owns 414 shares of the textile maker’s stock valued at $72,000 after acquiring an additional 170 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of UniFirst in the 2nd quarter worth approximately $92,000. Finally, Eastern Bank acquired a new stake in shares of UniFirst during the 3rd quarter worth approximately $109,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UNF has been the subject of several research reports. StockNews.com raised UniFirst from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Robert W. Baird increased their price objective on shares of UniFirst from $199.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $186.25.

Read Our Latest Analysis on UniFirst

UniFirst Price Performance

Shares of NYSE:UNF opened at $200.23 on Wednesday. The business’s fifty day moving average price is $189.46 and its two-hundred day moving average price is $178.02. UniFirst Co. has a fifty-two week low of $149.58 and a fifty-two week high of $205.38. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 25.77 and a beta of 0.82.

UniFirst Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. This is a boost from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s dividend payout ratio (DPR) is 16.99%.

About UniFirst

(Free Report)

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.

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