Raymond James Financial Inc. Purchases New Holdings in Vestis Co. (NYSE:VSTS)

Raymond James Financial Inc. purchased a new stake in Vestis Co. (NYSE:VSTS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 143,941 shares of the company’s stock, valued at approximately $2,194,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Vestis by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock valued at $32,136,000 after acquiring an additional 192,525 shares during the period. Cerity Partners LLC lifted its stake in Vestis by 335.7% in the 3rd quarter. Cerity Partners LLC now owns 71,578 shares of the company’s stock valued at $1,067,000 after purchasing an additional 55,149 shares during the last quarter. Brooklyn Investment Group bought a new position in Vestis during the third quarter worth about $27,000. Walleye Capital LLC acquired a new position in Vestis during the third quarter worth approximately $1,655,000. Finally, Captrust Financial Advisors bought a new stake in Vestis in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Robert W. Baird reduced their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.68.

Vestis Price Performance

Vestis stock opened at $10.09 on Monday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 126.17 and a beta of 1.40. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $19.76. The stock’s 50 day moving average is $12.80 and its 200-day moving average is $14.38.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same period in the prior year, the firm posted $0.22 earnings per share. Equities research analysts expect that Vestis Co. will post 0.7 EPS for the current year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s dividend payout ratio is 175.00%.

Vestis Profile

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.