Mutual of America Capital Management LLC Sells 217 Shares of UniFirst Co. (NYSE:UNF)

Mutual of America Capital Management LLC reduced its position in shares of UniFirst Co. (NYSE:UNF) by 8.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,260 shares of the textile maker’s stock after selling 217 shares during the quarter. Mutual of America Capital Management LLC’s holdings in UniFirst were worth $449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP increased its position in shares of UniFirst by 1,627.3% during the 2nd quarter. Quarry LP now owns 190 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 179 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of UniFirst by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 183 shares of the textile maker’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of UniFirst during the 2nd quarter worth about $92,000. Eastern Bank bought a new position in UniFirst during the 3rd quarter valued at about $109,000. Finally, CIBC Asset Management Inc purchased a new stake in UniFirst in the 3rd quarter worth about $202,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Stock Performance

NYSE:UNF opened at $202.84 on Thursday. The firm has a 50-day simple moving average of $192.00 and a 200-day simple moving average of $180.53. UniFirst Co. has a one year low of $149.58 and a one year high of $208.20. The firm has a market cap of $3.77 billion, a P/E ratio of 26.11 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. Shareholders of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, December 6th. This is an increase from UniFirst’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 0.69%. UniFirst’s payout ratio is currently 16.99%.

Insider Buying and Selling at UniFirst

In other news, 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 owns 17,390 shares of the company’s stock, valued at $3,320,968.30. This trade represents a 35.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Martin Katz sold 587 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.08, for a total value of $113,337.96. Following the transaction, the vice president now directly owns 5,625 shares in the company, valued at $1,086,075. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,294 shares of company stock valued at $2,546,632. 0.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

UNF has been the topic of several research analyst reports. StockNews.com downgraded UniFirst from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Robert W. Baird upped 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 given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $186.25.

UniFirst Company 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.