13,829,781 Shares in Vestis Co. (NYSE:VSTS) Bought by Pacer Advisors Inc.

Pacer Advisors Inc. purchased a new stake in Vestis Co. (NYSE:VSTS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,829,781 shares of the company's stock, valued at approximately $210,766,000. Pacer Advisors Inc. owned 10.50% of Vestis at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Vestis in the third quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. raised its holdings in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock valued at $30,000 after acquiring an additional 1,020 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Vestis during the 3rd quarter valued at $41,000. Canada Pension Plan Investment Board acquired a new stake in shares of Vestis during the 2nd quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vestis in the third quarter worth $51,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Price Performance

NYSE:VSTS traded down $0.12 on Monday, hitting $15.99. The company had a trading volume of 569,393 shares, compared to its average volume of 1,093,881. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 99.91 and a beta of 1.17. The firm has a 50 day moving average of $15.90 and a two-hundred day moving average of $14.62.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The firm had revenue of $684.28 million for the quarter, compared to analyst estimates of $693.54 million. Vestis's revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts anticipate that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.88%. Vestis's dividend payout ratio (DPR) is presently 87.51%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VSTS. JPMorgan Chase & Co. increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Barclays increased their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Vestis presently has an average rating of "Hold" and a consensus target price of $14.08.

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.