Geode Capital Management LLC Decreases Stock Holdings in Vestis Co. (NYSE:VSTS)

Geode Capital Management LLC trimmed its position in Vestis Co. (NYSE:VSTS - Free Report) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,905,422 shares of the company's stock after selling 150,535 shares during the quarter. Geode Capital Management LLC owned about 1.45% of Vestis worth $28,398,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its position in Vestis by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company's stock worth $808,000 after acquiring an additional 1,000 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake 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 valued at $30,000 after purchasing an additional 1,020 shares during the last quarter. KBC Group NV grew its holdings in shares of Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company's stock worth $71,000 after purchasing an additional 1,619 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Vestis during the 3rd quarter worth about $27,000. Finally, Crossmark Global Holdings Inc. raised its holdings in Vestis by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company's stock valued at $266,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VSTS. JPMorgan Chase & Co. increased their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. The Goldman Sachs Group increased their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Finally, Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $15.73.

Vestis Stock Down 2.2 %

VSTS traded down $0.34 during trading hours on Friday, hitting $15.36. 1,265,275 shares of the company's stock were exchanged, compared to its average volume of 2,187,491. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The firm has a market cap of $2.02 billion, a P/E ratio of 96.01 and a beta of 1.17. The firm has a 50 day moving average of $15.13 and a 200 day moving average of $14.01.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The company had revenue of $684.28 million during the quarter, compared to analyst estimates of $693.54 million. The company's quarterly revenue was down 4.4% compared to the same quarter last year. Analysts predict that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 13th. Vestis's dividend payout ratio is presently 87.50%.

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.