California Public Employees Retirement System Buys Shares of 213,937 Vestis Co. (NYSE:VSTS)

California Public Employees Retirement System bought a new stake in shares of Vestis Co. (NYSE:VSTS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 213,937 shares of the company’s stock, valued at approximately $4,523,000. California Public Employees Retirement System owned approximately 0.16% of Vestis as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VSTS. Sound Income Strategies LLC purchased a new position in shares of Vestis during the fourth quarter worth about $25,000. CI Investments Inc. purchased a new position in shares of Vestis during the third quarter worth about $28,000. Daiwa Securities Group Inc. purchased a new position in shares of Vestis during the fourth quarter worth about $34,000. S.A. Mason LLC purchased a new position in shares of Vestis during the fourth quarter worth about $52,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Vestis during the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

Shares of VSTS stock opened at $9.41 on Friday. The company has a current ratio of 2.51, a quick ratio of 2.23 and a debt-to-equity ratio of 1.69. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The stock has a 50 day moving average price of $18.38 and a two-hundred day moving average price of $18.69.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.09). The business had revenue of $705.37 million during the quarter, compared to analysts’ expectations of $722.54 million. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.49%.

Wall Street Analysts Forecast Growth

VSTS has been the subject of several recent analyst reports. Barclays cut their price objective on Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a report on Friday. Stifel Nicolaus reaffirmed a “hold” rating on shares of Vestis in a research note on Friday. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $11.00 in a research note on Friday. Robert W. Baird cut their target price on Vestis from $24.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Wolfe Research started coverage on Vestis in a research note on Thursday, January 11th. They issued an “outperform” rating and a $24.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.33.

Insider Activity at Vestis

In other Vestis news, CEO Kim Scott bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,131 shares in the company, valued at $3,505,127.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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.