Vestis Co. (NYSE:VSTS) Stock Holdings Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Vestis Co. (NYSE:VSTS) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,703 shares of the company’s stock after selling 40,424 shares during the period. New York State Common Retirement Fund’s holdings in Vestis were worth $5,238,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc bought a new position in Vestis during the fourth quarter valued at approximately $180,000. Sanctuary Advisors LLC raised its holdings in shares of Vestis by 19.5% during the 4th quarter. Sanctuary Advisors LLC now owns 22,609 shares of the company’s stock valued at $358,000 after purchasing an additional 3,686 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Vestis by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 555,225 shares of the company’s stock valued at $8,462,000 after purchasing an additional 15,176 shares during the last quarter. Rhumbline Advisers boosted its holdings in Vestis by 3.2% in the fourth quarter. Rhumbline Advisers now owns 289,052 shares of the company’s stock worth $4,405,000 after purchasing an additional 9,076 shares in the last quarter. Finally, Savant Capital LLC increased its position in Vestis by 16.1% during the fourth quarter. Savant Capital LLC now owns 74,292 shares of the company’s stock worth $1,132,000 after buying an additional 10,323 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Performance

VSTS opened at $11.91 on Friday. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $19.76. The firm has a market capitalization of $1.57 billion, a P/E ratio of 148.83 and a beta of 1.16. The stock’s 50 day moving average price is $14.94 and its two-hundred day moving average price is $14.81. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS) last announced 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 quarter last year, the company earned $0.22 EPS. On average, equities analysts forecast that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.18%. Vestis’s dividend payout ratio is 175.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VSTS shares. JPMorgan Chase & Co. boosted their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, Vestis has a consensus rating of “Hold” and an average target price of $14.08.

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.