Assenagon Asset Management S.A. Buys 411,466 Shares of Vestis Co. (NYSE:VSTS)

Assenagon Asset Management S.A. increased its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 99.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 824,649 shares of the company's stock after acquiring an additional 411,466 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.63% of Vestis worth $12,287,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new position in shares of Vestis in the 4th quarter worth $65,000. Canada Pension Plan Investment Board bought a new position in Vestis during the 2nd quarter valued at $44,000. GAMMA Investing LLC boosted its holdings in Vestis by 143.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock worth $59,000 after acquiring an additional 2,334 shares during the last quarter. Copeland Capital Management LLC purchased a new position in Vestis during the 3rd quarter worth $60,000. Finally, nVerses Capital LLC bought a new stake in shares of Vestis in the 2nd quarter worth $61,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Vestis Price Performance

Vestis stock traded up $0.14 during trading on Monday, hitting $14.13. The stock had a trading volume of 1,114,069 shares, compared to its average volume of 2,185,925. The stock's 50 day moving average is $14.62 and its two-hundred day moving average is $13.71. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37. 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 (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.06. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The firm had revenue of $698.20 million for the quarter, compared to analysts' expectations of $688.33 million. The business's quarterly revenue was down 1.6% compared to the same quarter last year. 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. Stockholders of record on Friday, September 13th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was 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.