Point72 Asset Management L.P. Has $3.80 Million Stock Holdings in Vestis Co. (NYSE:VSTS)

Point72 Asset Management L.P. boosted its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 19.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 255,029 shares of the company's stock after buying an additional 41,833 shares during the period. Point72 Asset Management L.P. owned approximately 0.19% of Vestis worth $3,800,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VSTS. AQR Capital Management LLC raised its stake in shares of Vestis by 223.0% during the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock valued at $45,197,000 after purchasing an additional 2,591,593 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock valued at $39,212,000 after purchasing an additional 1,384,413 shares during the period. TOMS Capital Investment Management LP raised its stake in shares of Vestis by 22.7% during the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock valued at $34,719,000 after purchasing an additional 430,555 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Vestis by 9.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock worth $32,136,000 after buying an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Vestis by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock worth $18,854,000 after buying an additional 8,997 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Trading Up 0.2 %

NYSE VSTS traded up $0.03 on Monday, hitting $16.36. 1,262,626 shares of the stock were exchanged, compared to its average volume of 2,121,148. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 102.07 and a beta of 1.15. The company's 50-day moving average price is $14.78 and its two-hundred day moving average price is $13.62.

Vestis (NYSE:VSTS - Get Free Report) last posted 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 return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million for the quarter, compared to analysts' expectations of $693.54 million. The company's revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts predict that Vestis Co. will post 0.66 EPS for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Vestis's dividend payout ratio is currently 87.51%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, Barclays lifted their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $16.91.

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.