Vanguard Group Inc. Reduces Stock Position in Vestis Co. (NYSE:VSTS)

Vanguard Group Inc. lessened its holdings in shares of Vestis Co. (NYSE:VSTS) by 10.0% during the fourth quarter, Holdings Channel reports. The firm owned 12,213,566 shares of the company’s stock after selling 1,351,129 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Vestis worth $186,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC raised its stake in Vestis by 223.0% in the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock worth $5,386,000 after buying an additional 249,479 shares in the last quarter. Annex Advisory Services LLC raised its position in shares of Vestis by 13.5% in the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock worth $4,479,000 after acquiring an additional 34,951 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Vestis in the 4th quarter valued at approximately $2,194,000. Proficio Capital Partners LLC bought a new stake in shares of Vestis during the fourth quarter valued at approximately $185,000. Finally, Ieq Capital LLC grew its stake in Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock worth $2,449,000 after purchasing an additional 140,324 shares during the period. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VSTS. The Goldman Sachs Group lowered their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Robert W. Baird lowered their price target 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. Finally, Barclays cut their price objective on shares of Vestis from $13.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Vestis has a consensus rating of “Hold” and a consensus target price of $13.08.

Vestis Price Performance

Shares of NYSE:VSTS opened at $7.93 on Monday. The company has a market capitalization of $1.04 billion, a PE ratio of 99.15 and a beta of 1.40. The business has a fifty day moving average price of $12.10 and a 200-day moving average price of $14.18. Vestis Co. has a 1-year low of $7.89 and a 1-year high of $19.76. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the company posted $0.22 earnings per share. As a group, equities analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.77%. Vestis’s payout ratio is currently 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.