84,603 Shares in Vestis Co. (NYSE:VSTS) Acquired by Riverwater Partners LLC

Riverwater Partners LLC purchased a new position in shares of Vestis Co. (NYSE:VSTS - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 84,603 shares of the company's stock, valued at approximately $1,255,000. Riverwater Partners LLC owned about 0.06% of Vestis as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VSTS. Canada Pension Plan Investment Board bought a new position in Vestis during the second quarter valued at about $44,000. GAMMA Investing LLC lifted its position in Vestis by 143.5% in the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock worth $59,000 after purchasing an additional 2,334 shares during the period. Copeland Capital Management LLC acquired a new stake in Vestis during the third quarter worth $60,000. nVerses Capital LLC bought a new stake in Vestis in the 2nd quarter valued at $61,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Vestis during the 4th quarter worth about $65,000. 97.40% of the stock is owned by institutional investors.

Vestis Price Performance

Shares of NYSE:VSTS traded down $0.06 during midday trading on Thursday, reaching $14.29. The company's stock had a trading volume of 1,093,946 shares, compared to its average volume of 2,195,258. The business's fifty day simple moving average is $14.60 and its 200-day simple moving average is $13.82. The company has a market capitalization of $1.88 billion and a P/E ratio of 19.31. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

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

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.14 annualized dividend and a yield of 0.98%. Vestis's dividend payout ratio is currently 18.92%.

Analysts Set New Price Targets

VSTS has been the subject of several recent research reports. Robert W. Baird lowered shares of Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price target for the company. in a research report on Thursday, August 8th. Baird R W downgraded Vestis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their price target on Vestis from $12.50 to $13.80 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Vestis has an average rating of "Hold" and a consensus target price of $16.69.

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.