Handelsbanken Fonder AB Purchases Shares of 34,100 Vestis Co. (NYSE:VSTS)

Handelsbanken Fonder AB acquired a new stake in Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 34,100 shares of the company's stock, valued at approximately $520,000.

Several other institutional investors have also added to or reduced their stakes in VSTS. Pacer Advisors Inc. purchased a new stake in shares of Vestis during the 4th quarter valued at about $210,766,000. Jacobs Levy Equity Management Inc. boosted its holdings in Vestis by 111.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock worth $39,212,000 after purchasing an additional 1,384,413 shares during the last quarter. TOMS Capital Investment Management LP grew its position in Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock worth $34,719,000 after purchasing an additional 430,555 shares during the period. Charles Schwab Investment Management Inc. grew its position in Vestis by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock worth $32,136,000 after purchasing an additional 192,525 shares during the period. Finally, Forest Avenue Capital Management LP purchased a new stake in Vestis during the 3rd quarter valued at $19,486,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Stock Performance

NYSE VSTS traded down $0.23 on Monday, reaching $11.62. 1,457,434 shares of the stock were exchanged, compared to its average volume of 1,341,023. The firm has a market capitalization of $1.53 billion, a PE ratio of 145.27 and a beta of 1.16. Vestis Co. has a one year low of $8.92 and a one year high of $19.76. The company's 50-day simple moving average is $14.85 and its two-hundred day simple moving average is $14.83. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business posted $0.22 EPS. Analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, February 21st. Vestis's dividend payout ratio is currently 175.00%.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Finally, Barclays upped their price target on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.08.

About Vestis

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.