Oak Thistle LLC Makes New $852,000 Investment in Vestis Co. (NYSE:VSTS)

Oak Thistle LLC acquired a new position in shares of Vestis Co. (NYSE:VSTSFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 40,307 shares of the company’s stock, valued at approximately $852,000.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB purchased a new position in shares of Vestis during the fourth quarter worth approximately $3,909,000. Wolverine Asset Management LLC purchased a new position in shares of Vestis during the third quarter worth approximately $2,412,000. Rosenberg Matthew Hamilton purchased a new position in shares of Vestis during the fourth quarter worth approximately $55,000. CI Investments Inc. purchased a new position in Vestis in the 3rd quarter valued at $28,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Vestis in the 3rd quarter valued at $1,318,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Vestis in a research report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price objective on the stock. Barclays lowered shares of Vestis from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $17.00 to $19.00 in a research report on Wednesday, February 28th. Wells Fargo & Company initiated coverage on shares of Vestis in a research report on Friday, December 15th. They issued an “overweight” rating and a $24.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Vestis in a research report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

View Our Latest Research Report on Vestis

Vestis Price Performance

Vestis stock opened at $18.63 on Wednesday. Vestis Co. has a one year low of $13.83 and a one year high of $22.37. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.61 and a quick ratio of 2.23. The firm has a fifty day simple moving average of $19.44.

Vestis (NYSE:VSTSGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $717.90 million during the quarter, compared to analyst estimates of $724.72 million. Vestis’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts expect that Vestis Co. will post 1.03 earnings per share for the current fiscal year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, March 14th.

Insider Transactions at Vestis

In other news, CEO Kim Scott purchased 15,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $19.14 per share, with a total value of $287,100.00. Following the purchase, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Vestis Profile

(Free Report)

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.

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Institutional Ownership by Quarter for Vestis (NYSE:VSTS)

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