Bank of America Corp DE lowered its stake in shares of UniFirst Corp (NYSE:UNF) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,796 shares of the textile maker’s stock after selling 8,561 shares during the period. Bank of America Corp DE owned approximately 0.37% of UniFirst worth $12,524,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of UNF. Captrust Financial Advisors raised its position in shares of UniFirst by 743.3% during the second quarter. Captrust Financial Advisors now owns 565 shares of the textile maker’s stock worth $100,000 after purchasing an additional 498 shares during the period. Point72 Asia Hong Kong Ltd acquired a new stake in shares of UniFirst during the first quarter worth about $118,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of UniFirst by 43.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 947 shares of the textile maker’s stock worth $168,000 after purchasing an additional 286 shares during the period. Zeke Capital Advisors LLC acquired a new stake in shares of UniFirst during the second quarter worth about $207,000. Finally, Verition Fund Management LLC acquired a new stake in shares of UniFirst during the first quarter worth about $200,000. Hedge funds and other institutional investors own 77.30% of the company’s stock.
In related news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of UniFirst stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $182.83, for a total value of $402,226.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Cecelia Levenstein sold 3,417 shares of UniFirst stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $186.72, for a total value of $638,022.24. Following the completion of the sale, the insider now directly owns 128,608 shares in the company, valued at approximately $24,013,685.76. The disclosure for this sale can be found here. In the last three months, insiders sold 10,526 shares of company stock worth $1,958,172. 1.00% of the stock is owned by insiders.
A number of equities research analysts have recently commented on UNF shares. Zacks Investment Research lowered UniFirst from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. ValuEngine lowered UniFirst from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Robert W. Baird raised their price target on UniFirst from $183.00 to $198.00 and gave the stock an “outperform” rating in a research report on Thursday, June 28th. Finally, Barrington Research reaffirmed a “hold” rating on shares of UniFirst in a research report on Friday, June 29th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $202.00.
NYSE UNF opened at $158.07 on Friday. The stock has a market cap of $3.32 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. UniFirst Corp has a one year low of $144.30 and a one year high of $193.05.
UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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