Cwm LLC Grows Position in Vestis Co. (NYSE:VSTS)

CWM LLC boosted its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 253.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,834 shares of the company's stock after buying an additional 33,594 shares during the quarter. CWM LLC's holdings in Vestis were worth $698,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VSTS. Canada Pension Plan Investment Board bought a new stake in shares of Vestis in the second quarter valued at about $44,000. GAMMA Investing LLC raised its holdings in shares of Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock valued at $59,000 after purchasing an additional 2,334 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Vestis in the 2nd quarter worth approximately $61,000. PNC Financial Services Group Inc. bought a new position in shares of Vestis during the fourth quarter valued at approximately $65,000. Finally, Quarry LP increased its holdings in Vestis by 346.0% during the second quarter. Quarry LP now owns 6,556 shares of the company's stock valued at $80,000 after buying an additional 5,086 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Price Performance

Shares of Vestis stock traded down $0.01 during midday trading on Friday, hitting $15.23. The company had a trading volume of 1,368,133 shares, compared to its average volume of 2,218,521. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. 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 $14.47 and a 200 day simple moving average of $13.91.

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

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Friday, September 13th.

Analyst Upgrades and Downgrades

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

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.