Orion Portfolio Solutions LLC Sells 582 Shares of UniFirst Co. (NYSE:UNF)

Orion Portfolio Solutions LLC trimmed its position in UniFirst Co. (NYSE:UNF) by 6.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,149 shares of the textile maker’s stock after selling 582 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in UniFirst were worth $1,817,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in UNF. Jane Street Group LLC increased its stake in shares of UniFirst by 13.3% in the 3rd quarter. Jane Street Group LLC now owns 23,978 shares of the textile maker’s stock valued at $4,763,000 after purchasing an additional 2,823 shares during the last quarter. Wolverine Trading LLC bought a new position in UniFirst in the 3rd quarter valued at approximately $219,000. Stifel Financial Corp boosted its position in UniFirst by 2.1% in the third quarter. Stifel Financial Corp now owns 34,711 shares of the textile maker’s stock valued at $6,895,000 after buying an additional 720 shares in the last quarter. SageView Advisory Group LLC grew its stake in shares of UniFirst by 30.8% during the third quarter. SageView Advisory Group LLC now owns 1,532 shares of the textile maker’s stock worth $304,000 after buying an additional 361 shares during the last quarter. Finally, IHT Wealth Management LLC acquired a new position in shares of UniFirst during the third quarter worth $239,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Price Performance

Shares of UniFirst stock opened at $192.71 on Friday. The company has a 50-day moving average of $193.40 and a 200 day moving average of $183.08. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 24.80 and a beta of 0.84. UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $208.20.

UniFirst Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.73%. This is a positive change from UniFirst’s previous quarterly dividend of $0.33. UniFirst’s dividend payout ratio is presently 18.02%.

Insider Buying and Selling at UniFirst

In other UniFirst news, VP David Martin Katz sold 587 shares of UniFirst stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.08, for a total value of $113,337.96. Following the transaction, the vice president now owns 5,625 shares in the company, valued at $1,086,075. The trade was a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 9,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $190.97, for a total value of $1,814,215.00. Following the completion of the sale, the insider now directly owns 17,390 shares of the company’s stock, valued at $3,320,968.30. The trade was a 35.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,294 shares of company stock valued at $2,546,632 over the last ninety days. 0.74% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on UNF. StockNews.com downgraded UniFirst from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 28th. Robert W. Baird raised their price target on shares of UniFirst from $199.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $186.25.

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.