Vestis Co. (NYSE:VSTS) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its holdings in shares of Vestis Co. (NYSE:VSTS) by 45.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,882 shares of the company’s stock after acquiring an additional 2,479 shares during the quarter. Sterling Capital Management LLC’s holdings in Vestis were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Vestis by 445.4% in the third quarter. Barclays PLC now owns 51,981 shares of the company’s stock valued at $774,000 after buying an additional 42,450 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Vestis during the third quarter worth $303,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Vestis in the third quarter valued at $238,000. Franklin Resources Inc. lifted its holdings in Vestis by 34.1% in the 3rd quarter. Franklin Resources Inc. now owns 561,384 shares of the company’s stock worth $8,404,000 after buying an additional 142,854 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after acquiring an additional 710 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Up 3.4 %

Shares of NYSE:VSTS opened at $8.02 on Wednesday. Vestis Co. has a 1-year low of $7.35 and a 1-year high of $19.11. The company’s fifty day moving average is $10.29 and its two-hundred day moving average is $13.48. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 100.26 and a beta of 1.55.

Vestis (NYSE:VSTS) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company earned $0.22 EPS. Equities analysts anticipate that Vestis Co. will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were paid a dividend of $0.035 per share. 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 1.75%. Vestis’s payout ratio is currently 175.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in 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 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 on the stock in a research note on Thursday, March 20th. Finally, Barclays dropped their target price on shares of Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.08.

About Vestis

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.