Alliancebernstein L.P. Trims Holdings in Vestis Co. (NYSE:VSTS)

Alliancebernstein L.P. reduced its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 48.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,872 shares of the company's stock after selling 52,844 shares during the quarter. Alliancebernstein L.P.'s holdings in Vestis were worth $867,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its stake in Vestis by 445.4% in the 3rd quarter. Barclays PLC now owns 51,981 shares of the company's stock worth $774,000 after acquiring an additional 42,450 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Vestis during the 3rd quarter worth $303,000. Wilmington Savings Fund Society FSB bought a new stake in Vestis during the 3rd quarter valued at $238,000. Franklin Resources Inc. lifted its holdings in shares of Vestis by 34.1% in the 3rd quarter. Franklin Resources Inc. now owns 561,384 shares of the company's stock worth $8,404,000 after buying an additional 142,854 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of 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 buying an additional 710 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Price Performance

NYSE VSTS opened at $7.67 on Friday. Vestis Co. has a 12-month low of $7.35 and a 12-month high of $19.11. The firm's fifty day simple moving average is $10.52 and its two-hundred day simple moving average is $13.57. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $1.01 billion, a P/E ratio of 95.82 and a beta of 1.55.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $0.22 EPS. Analysts forecast that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently announced 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 1.83%. The ex-dividend date of this dividend was Friday, February 21st. Vestis's dividend payout ratio is presently 175.00%.

Wall Street Analyst Weigh In

VSTS has been the subject of a number of research reports. Barclays lowered their price objective on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, April 4th. The Goldman Sachs Group reduced their price objective on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, 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 research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $13.08.

About Vestis

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.

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