Federated Hermes Inc. decreased its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 33.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,237 shares of the company's stock after selling 59,312 shares during the quarter. Federated Hermes Inc. owned about 0.09% of Vestis worth $1,817,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Spire Wealth Management acquired a new stake in Vestis in the 4th quarter valued at about $29,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock valued at $30,000 after purchasing an additional 1,020 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock worth $38,000 after buying an additional 2,123 shares in the last quarter. GAMMA Investing LLC boosted its stake in Vestis by 17.9% during the fourth 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 last quarter. Finally, Quantbot Technologies LP purchased a new stake in Vestis in the 4th quarter valued at $93,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Robert W. Baird dropped their price target on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Finally, Barclays cut their price target on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Vestis currently has a consensus rating of "Hold" and a consensus target price of $13.08.
Check Out Our Latest Stock Analysis on VSTS
Vestis Trading Down 2.7 %
Shares of NYSE:VSTS traded down $0.22 during mid-day trading on Tuesday, reaching $7.76. 1,610,656 shares of the company were exchanged, compared to its average volume of 2,297,125. 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 $11.01 and its 200 day simple moving average is $13.77. Vestis Co. has a 1 year low of $7.37 and a 1 year high of $19.11. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 97.06 and a beta of 1.55.
Vestis (NYSE:VSTS - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) 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 quarter last year, the business posted $0.22 EPS. Equities research analysts forecast that Vestis Co. will post 0.7 EPS for the current year.
Vestis Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.80%. Vestis's dividend payout ratio (DPR) is presently 175.00%.
Vestis Company Profile
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Free Report)
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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