JPMorgan Chase & Co. Sells 33,972 Shares of Vestis Co. (NYSE:VSTS)

JPMorgan Chase & Co. decreased its position in Vestis Co. (NYSE:VSTS - Free Report) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,607 shares of the company's stock after selling 33,972 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of Vestis worth $1,518,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in VSTS. Pacer Advisors Inc. bought a new position in Vestis in the fourth quarter worth $210,766,000. Birnam Oak Advisors LP bought a new stake in Vestis during the 4th quarter valued at about $21,446,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Vestis by 17.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock worth $38,693,000 after buying an additional 382,071 shares in the last quarter. Royce & Associates LP lifted 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Vestis by 20.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company's stock worth $16,717,000 after buying an additional 188,661 shares in the last quarter. Institutional investors own 97.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Vestis Stock Performance

VSTS stock traded up $0.02 during midday trading on Monday, reaching $8.82. 1,395,810 shares of the company's stock traded hands, compared to its average volume of 2,320,542. Vestis Co. has a 52-week low of $7.35 and a 52-week high of $18.99. The stock has a market cap of $1.16 billion, a P/E ratio of 110.26 and a beta of 1.55. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The stock's 50-day moving average is $9.98 and its 200 day moving average is $13.34.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $0.14 EPS 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 company earned $0.22 earnings per share. As a group, analysts anticipate that Vestis Co. will post 0.7 EPS for the current year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders 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 1.59%. Vestis's payout ratio is currently 175.00%.

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.