The Bank of Montreal Can Takes Position in UniFirst Corp. (UNF)

The Bank of Montreal Can Takes Position in UniFirst Corp. (UNF)

Bank of Montreal Can bought a new position in UniFirst Corp. (NYSE:UNF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,988 shares of the company’s stock, valued at approximately $4,975,000.

A number of other institutional investors also recently made changes to their positions in UNF. Wellington Management Group LLP raised its position in shares of UniFirst Corp. by 1,231.7% in the first quarter. Wellington Management Group LLP now owns 486,568 shares of the company’s stock worth $53,094,000 after buying an additional 450,032 shares during the period. Fiduciary Management Inc. WI raised its position in shares of UniFirst Corp. by 12.0% in the first quarter. Fiduciary Management Inc. WI now owns 498,600 shares of the company’s stock worth $54,407,000 after buying an additional 53,606 shares during the period. William Harris Investors Inc. bought a new position in shares of UniFirst Corp. during the first quarter worth about $2,839,000. UBS Asset Management Americas Inc. raised its position in shares of UniFirst Corp. by 178.2% in the first quarter. UBS Asset Management Americas Inc. now owns 27,406 shares of the company’s stock worth $2,990,000 after buying an additional 17,555 shares during the period. Finally, UBS Group AG raised its position in shares of UniFirst Corp. by 131.0% in the first quarter. UBS Group AG now owns 26,901 shares of the company’s stock worth $2,935,000 after buying an additional 15,257 shares during the period. 73.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of UniFirst Corp. (NYSE:UNF) traded up 0.43% during midday trading on Wednesday, reaching $132.09. 39,672 shares of the company’s stock traded hands. The stock has a 50 day moving average of $130.52 and a 200-day moving average of $117.98. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 22.55 and a beta of 0.79. UniFirst Corp. has a 52-week low of $96.90 and a 52-week high of $137.01.

Several equities research analysts have issued reports on UNF shares. Robert W. Baird lowered shares of UniFirst Corp. from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $121.00 in a report on Friday, July 1st. JPMorgan Chase & Co. reissued a “hold” rating on shares of UniFirst Corp. in a report on Thursday, June 30th. Finally, Zacks Investment Research lowered shares of UniFirst Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 1st.

In other UniFirst Corp. news, VP David A. Difillippo sold 467 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $114.77, for a total transaction of $53,597.59. Following the completion of the transaction, the vice president now owns 3,824 shares of the company’s stock, valued at approximately $438,880.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David A. Difillippo sold 1,267 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $115.48, for a total value of $146,313.16. Following the transaction, the vice president now directly owns 3,512 shares of the company’s stock, valued at approximately $405,565.76. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.

UniFirst Corp. Company Profile

UniFirst Corporation (UniFirst) 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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