Vestis Co. (NYSE:VSTS) Stock Position Cut by Alberta Investment Management Corp

Alberta Investment Management Corp lessened its stake in Vestis Co. (NYSE:VSTS - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,718,833 shares of the company's stock after selling 152,600 shares during the quarter. Alberta Investment Management Corp owned about 2.82% of Vestis worth $56,675,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc acquired a new position in shares of Vestis in the fourth quarter worth about $180,000. Sanctuary Advisors LLC raised its position in shares of Vestis by 19.5% in 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. raised its position 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 in the last quarter. Rhumbline Advisers boosted its stake in shares of Vestis by 3.2% during the 4th quarter. Rhumbline Advisers now owns 289,052 shares of the company's stock valued at $4,405,000 after buying an additional 9,076 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Analyst Upgrades and Downgrades

VSTS has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Barclays increased 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, JPMorgan Chase & Co. raised their price objective on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Vestis currently has a consensus rating of "Hold" and an average target price of $14.08.

Vestis Stock Performance

Shares of NYSE VSTS traded down $0.38 during mid-day trading on Friday, hitting $13.05. The company had a trading volume of 980,353 shares, compared to its average volume of 1,299,676. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $20.07. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 163.08 and a beta of 1.16. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The firm's 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $14.81.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same period last year, the firm earned $0.22 EPS. As a group, equities research analysts forecast that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, February 21st. Vestis's payout ratio is 175.02%.

Vestis Company 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.