Vestis Co. (NYSE:VSTS) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 626,375 shares of the company's stock after purchasing an additional 64,991 shares during the period. Franklin Resources Inc. owned about 0.48% of Vestis worth $9,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VSTS. HighTower Advisors LLC increased its position in shares of Vestis by 223.0% during the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company's stock worth $5,386,000 after purchasing an additional 249,479 shares in the last quarter. Annex Advisory Services LLC lifted its stake in shares of Vestis by 13.5% in the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock valued at $4,479,000 after purchasing an additional 34,951 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Vestis in the 4th quarter worth approximately $2,194,000. Proficio Capital Partners LLC acquired a new position in shares of Vestis during the 4th quarter worth $185,000. Finally, Ieq Capital LLC raised its position in shares of Vestis by 689.7% during the 4th quarter. Ieq Capital LLC now owns 160,671 shares of the company's stock worth $2,449,000 after purchasing an additional 140,324 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

VSTS has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating on the stock in a research note on Friday, April 4th. Robert W. Baird lowered their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group decreased their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $13.08.

Vestis Stock Performance

Shares of Vestis stock traded up $0.18 on Monday, reaching $8.05. 81,941 shares of the company were exchanged, compared to its average volume of 2,290,374. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 100.64 and a beta of 1.55. The company's 50-day moving average is $11.12 and its two-hundred day moving average is $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. Vestis Co. has a 1-year low of $7.37 and a 1-year high of $19.34.

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, beating 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 prior year, the firm posted $0.22 EPS. As a group, research analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm also recently declared 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 1.74%. Vestis's payout ratio 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.