Arrowstreet Capital Limited Partnership Acquires 32,427 Shares of Vestis Co. (NYSE:VSTS)

Arrowstreet Capital Limited Partnership lifted its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 732,351 shares of the company's stock after acquiring an additional 32,427 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.56% of Vestis worth $11,161,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VSTS. GAMMA Investing LLC lifted its holdings 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 buying an additional 710 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock worth $30,000 after acquiring an additional 1,020 shares in the last quarter. Swiss National Bank raised its position in shares of Vestis by 0.7% in the 4th quarter. Swiss National Bank now owns 232,750 shares of the company's stock worth $3,547,000 after acquiring an additional 1,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Vestis by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock worth $681,000 after acquiring an additional 1,735 shares in the last quarter. Finally, Spire Wealth Management bought a new position in shares of Vestis in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Stock Down 5.4 %

Vestis stock traded down $0.46 during midday trading on Thursday, reaching $8.13. The stock had a trading volume of 283,214 shares, compared to its average volume of 2,065,903. Vestis Co. has a 12 month low of $7.37 and a 12 month high of $19.50. The company has a market capitalization of $1.07 billion, a P/E ratio of 101.64 and a beta of 1.55. The company has a fifty day moving average price of $11.36 and a two-hundred day moving average price of $13.93. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the prior year, the company posted $0.22 earnings per share. As a group, equities analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were paid a $0.035 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.72%. Vestis's payout ratio is presently 175.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Barclays lowered their price objective on Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday, April 4th. Finally, Robert W. Baird decreased their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $13.08.

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.