Renaissance Technologies LLC Decreases Stock Holdings in Vestis Co. (NYSE:VSTS)

Renaissance Technologies LLC decreased its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 51.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 630,700 shares of the company's stock after selling 657,100 shares during the period. Renaissance Technologies LLC owned about 0.48% of Vestis worth $9,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in Vestis during the fourth quarter valued at about $210,766,000. Birnam Oak Advisors LP bought a new position in shares of Vestis during the 4th quarter valued at approximately $21,446,000. Charles Schwab Investment Management Inc. grew its stake in shares of Vestis by 17.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock valued at $38,693,000 after acquiring an additional 382,071 shares during the period. Royce & Associates LP increased its holdings in Vestis by 39.2% in the 4th quarter. Royce & Associates LP now owns 959,830 shares of the company's stock worth $14,628,000 after acquiring an additional 270,441 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Vestis by 20.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company's stock worth $16,717,000 after acquiring an additional 188,661 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Trading Up 3.0 %

Shares of NYSE VSTS traded up $0.23 during trading hours on Friday, reaching $7.67. The stock had a trading volume of 1,649,642 shares, compared to its average volume of 2,313,167. The business's fifty day moving average price is $10.52 and its two-hundred day moving average price is $13.57. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 95.82 and a beta of 1.55. Vestis Co. has a 52-week low of $7.35 and a 52-week high of $19.11. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

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

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were given a $0.035 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.83%. Vestis's payout ratio is presently 175.00%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Barclays lowered their price target on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. Finally, Robert W. Baird cut their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $13.08.

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.