Vestis Co. (NYSE:VSTS) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 35.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 684,776 shares of the company's stock after selling 372,087 shares during the quarter. Granite Investment Partners LLC owned about 0.52% of Vestis worth $10,436,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in shares of Vestis during the fourth quarter worth $210,766,000. Birnam Oak Advisors LP purchased a new position in shares of Vestis during the 4th quarter valued at about $21,446,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vestis by 17.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock valued at $38,693,000 after buying an additional 382,071 shares during the period. Royce & Associates LP boosted its stake in shares of Vestis by 39.2% in the fourth quarter. Royce & Associates LP now owns 959,830 shares of the company's stock worth $14,628,000 after buying an additional 270,441 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Vestis by 20.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company's stock valued at $16,717,000 after acquiring an additional 188,661 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on VSTS shares. 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 decreased their price objective on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday, April 4th. Finally, The Goldman Sachs Group reduced their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Vestis has a consensus rating of "Hold" and an average target price of $13.08.

Vestis Price Performance

Shares of NYSE:VSTS traded up $0.23 during trading on Friday, reaching $7.67. The stock had a trading volume of 1,649,642 shares, compared to its average volume of 2,301,415. The business has a fifty day moving average price of $10.64 and a 200-day moving average price of $13.63. 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 $1.01 billion, a PE ratio of 95.82 and a beta of 1.55. Vestis Co. has a 1-year low of $7.35 and a 1-year high of $19.11.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings results 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 prior year, the company earned $0.22 EPS. On average, equities analysts forecast that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were given a $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.83%. Vestis's dividend payout ratio (DPR) is presently 175.00%.

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.