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% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,882 shares of the company’s stock after acquiring an additional 2,479 shares during the period. 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 and hedge funds have also added to or reduced their stakes in VSTS. GAMMA Investing LLC boosted its position in Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after acquiring an additional 710 shares during the period. Bank of Montreal Can lifted its holdings in Vestis by 11.1% in the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company’s stock worth $233,000 after purchasing an additional 1,534 shares during the period. Swiss National Bank grew its position in Vestis by 0.7% in the 4th quarter. Swiss National Bank now owns 232,750 shares of the company’s stock valued at $3,547,000 after buying an additional 1,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Vestis by 3.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock valued at $681,000 after buying an additional 1,735 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of Vestis during the 4th quarter worth about $29,000. 97.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Barclays cut their price objective on Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, April 4th. Finally, The Goldman Sachs Group lowered their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.08.

Vestis Stock Up 3.4 %

Shares of Vestis stock opened at $8.02 on Wednesday. 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 Co. has a 12-month low of $7.35 and a 12-month high of $19.11. The firm has a market capitalization of $1.06 billion, a PE ratio of 100.26 and a beta of 1.55. The stock’s fifty day moving average is $10.29 and its 200-day moving average is $13.48.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating 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 firm earned $0.22 earnings per share. Equities analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s payout ratio is 175.00%.

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.