UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 22,630 Shares of Vestis Co. (NYSE:VSTS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Vestis Co. (NYSE:VSTS) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 307,534 shares of the company’s stock after selling 22,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Vestis were worth $4,582,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VSTS. Louisiana State Employees Retirement System increased its stake in Vestis by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock valued at $808,000 after acquiring an additional 1,000 shares during the period. KBC Group NV increased its position in shares of Vestis by 51.9% during the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after purchasing an additional 1,619 shares during the period. Brooklyn Investment Group bought a new stake in shares of Vestis during the third quarter valued at approximately $27,000. Crossmark Global Holdings Inc. raised its stake in shares of Vestis by 9.6% in the second quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock valued at $266,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Everence Capital Management Inc. lifted its position in Vestis by 17.5% in the third quarter. Everence Capital Management Inc. now owns 14,210 shares of the company’s stock worth $212,000 after purchasing an additional 2,120 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VSTS has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Barclays increased their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.91.

Vestis Trading Down 1.0 %

Shares of Vestis stock opened at $16.46 on Thursday. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The stock has a market capitalization of $2.16 billion, a P/E ratio of 102.88 and a beta of 1.15. The company has a 50-day simple moving average of $14.88 and a 200 day simple moving average of $13.70. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million for the quarter, compared to the consensus estimate of $693.54 million. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. Research analysts expect that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.85%. Vestis’s payout ratio is 87.51%.

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.