Raymond James Financial Inc. Takes $2.19 Million Position in Vestis Co. (NYSE:VSTS)

Raymond James Financial Inc. acquired a new stake in Vestis Co. (NYSE:VSTS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 143,941 shares of the company's stock, valued at approximately $2,194,000. Raymond James Financial Inc. owned approximately 0.11% of Vestis at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock valued at $71,000 after purchasing an additional 710 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock valued at $30,000 after buying an additional 1,020 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Vestis by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock valued at $681,000 after buying an additional 1,735 shares in the last quarter. Brooklyn Investment Group acquired a new position in Vestis during the third quarter worth about $27,000. Finally, Spire Wealth Management bought a new stake in Vestis in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Trading Down 9.4 %

NYSE VSTS traded down $0.94 on Thursday, hitting $9.06. 4,222,503 shares of the company were exchanged, compared to its average volume of 2,259,595. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. Vestis Co. has a twelve month low of $8.92 and a twelve month high of $19.76. The firm has a market capitalization of $1.19 billion, a P/E ratio of 113.20 and a beta of 1.40. The company's 50 day moving average price is $12.27 and its 200-day moving average price is $14.24.

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Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the prior year, the company earned $0.22 EPS. Analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.55%. Vestis's payout ratio is currently 175.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Robert W. Baird reduced their target price on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, Vestis presently has an average rating of "Hold" and a consensus target price of $13.68.

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.