Fmr LLC Cuts Position in Vestis Co. (NYSE:VSTS)

Fmr LLC trimmed its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 10.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,637,988 shares of the company's stock after selling 972,659 shares during the period. Fmr LLC owned approximately 6.56% of Vestis worth $131,643,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Spire Wealth Management bought a new position in Vestis in the 4th quarter worth about $29,000. Nomura Asset Management Co. Ltd. raised its holdings in Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock worth $30,000 after buying an additional 1,020 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Vestis by 548.6% in 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of Vestis by 17.9% in 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 in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Vestis during the fourth quarter valued at approximately $93,000. 97.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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Vestis Stock Down 0.4 %

Vestis stock opened at $7.86 on Monday. Vestis Co. has a one year low of $7.37 and a one year high of $19.34. The stock has a fifty day moving average of $11.12 and a 200 day moving average of $13.82. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock has a market cap of $1.03 billion, a PE ratio of 98.20 and a beta of 1.55.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data 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 net margin of 0.34% and a return on equity of 7.91%. During the same period in the previous year, the firm posted $0.22 EPS. As a group, sell-side analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.78%. Vestis's dividend payout ratio (DPR) is 175.00%.

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.

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