Point72 Asset Management L.P. Purchases Shares of 213,196 Vestis Co. (NYSE:VSTS)

Point72 Asset Management L.P. acquired a new stake in shares of Vestis Co. (NYSE:VSTS - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 213,196 shares of the company's stock, valued at approximately $2,607,000. Point72 Asset Management L.P. owned approximately 0.16% of Vestis as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC acquired a new stake in shares of Vestis during the 4th quarter valued at about $42,000. Wahed Invest LLC acquired a new stake in Vestis in the fourth quarter valued at approximately $42,000. Canada Pension Plan Investment Board bought a new stake in Vestis in the second quarter worth approximately $44,000. nVerses Capital LLC acquired a new position in shares of Vestis during the 2nd quarter worth $61,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Vestis during the 4th quarter valued at $65,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Vestis from $12.50 to $13.80 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Baird R W downgraded Vestis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. Finally, Robert W. Baird downgraded Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price objective on the stock. in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $16.69.

Vestis Trading Down 2.1 %

VSTS traded down $0.31 during midday trading on Thursday, reaching $14.52. The company's stock had a trading volume of 3,492,244 shares, compared to its average volume of 2,242,238. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. The company has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $14.21. Vestis Co. has a twelve month low of $8.92 and a twelve month high of $22.37.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The business had revenue of $698.20 million for the quarter, compared to analyst estimates of $688.33 million. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts expect that Vestis Co. will post 0.64 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th.

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.