Public Employees Retirement System of Ohio Raises Stock Position in Vestis Co. (NYSE:VSTS)

Public Employees Retirement System of Ohio lifted its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 105.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,255 shares of the company's stock after acquiring an additional 62,675 shares during the period. Public Employees Retirement System of Ohio owned 0.09% of Vestis worth $1,822,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

VSTS has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Barclays upped their price objective on Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $15.73.

Vestis Stock Down 0.8 %

Shares of Vestis stock traded down $0.13 during trading on Thursday, hitting $15.59. 3,397,106 shares of the stock traded hands, compared to its average volume of 2,130,439. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The stock's fifty day simple moving average is $15.04 and its 200 day simple moving average is $13.86. The firm has a market cap of $2.05 billion, a P/E ratio of 97.44 and a beta of 1.17. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.11 EPS 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 business had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. The business's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts predict that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.90%. Vestis's dividend payout ratio is currently 87.50%.

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.