UniFirst Corp (NYSE:UNF) announced a quarterly dividend on Tuesday, January 9th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.0375 per share by the textile maker on Friday, March 30th. This represents a $0.15 dividend on an annualized basis and a yield of 0.09%.
UniFirst has a payout ratio of 2.8% meaning its dividend is sufficiently covered by earnings. Analysts expect UniFirst to earn $6.04 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 2.5%.
Shares of UniFirst (NYSE:UNF) traded up $0.10 during trading on Tuesday, reaching $171.70. The company had a trading volume of 77,000 shares, compared to its average volume of 107,240. UniFirst has a 1-year low of $124.85 and a 1-year high of $176.15. The firm has a market cap of $3,440.00, a price-to-earnings ratio of 45.91, a PEG ratio of 3.17 and a beta of 0.74.
In other news, VP David Martin Katz sold 1,060 shares of UniFirst stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $168.15, for a total transaction of $178,239.00. Following the completion of the transaction, the vice president now directly owns 2,667 shares in the company, valued at approximately $448,456.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Croatti sold 1,216 shares of UniFirst stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $168.99, for a total value of $205,491.84. Following the transaction, the vice president now owns 3,375 shares of the company’s stock, valued at $570,341.25. The disclosure for this sale can be found here. Insiders have sold a total of 2,401 shares of company stock worth $405,193 in the last ninety days. Insiders own 1.00% of the company’s stock.
A number of equities research analysts recently issued reports on UNF shares. Zacks Investment Research raised UniFirst from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Tuesday, September 12th. Northcoast Research reaffirmed a “neutral” rating on shares of UniFirst in a research report on Thursday, October 19th. Finally, Robert W. Baird boosted their price target on UniFirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $180.00.
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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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