S.A. Mason LLC Makes New Investment in Vestis Co. (NYSE:VSTS)

S.A. Mason LLC acquired a new position in shares of Vestis Co. (NYSE:VSTS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,450 shares of the company’s stock, valued at approximately $52,000.

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

Insider Activity at Vestis

In other news, CEO Kim Scott purchased 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were 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 $3,505,127.34. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VSTS shares. Wolfe Research assumed coverage on shares of Vestis in a research note on Thursday, January 11th. They set an “outperform” rating and a $24.00 target price on the stock. Barclays lowered Vestis from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $17.00 to $19.00 in a report on Wednesday, February 28th. The Goldman Sachs Group began coverage on Vestis in a report on Thursday, January 25th. They set a “neutral” rating and a $22.00 price target on the stock. Stifel Nicolaus increased their price target on Vestis from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. Finally, Wells Fargo & Company assumed coverage on Vestis in a research report on Friday, December 15th. They set an “overweight” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Vestis Price Performance

NYSE:VSTS opened at $18.95 on Thursday. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73. The company has a 50 day moving average of $19.60. Vestis Co. has a 12-month low of $13.83 and a 12-month high of $22.37.

Vestis (NYSE:VSTS) last posted 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 company had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $724.72 million. Vestis’s revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 15th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.74%.

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.