Riverwater Partners LLC Has $1.90 Million Stake in Vestis Co. (NYSE:VSTS)

Riverwater Partners LLC boosted its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 47.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,819 shares of the company's stock after acquiring an additional 40,216 shares during the quarter. Vestis comprises approximately 0.9% of Riverwater Partners LLC's portfolio, making the stock its 29th biggest holding. Riverwater Partners LLC owned about 0.09% of Vestis worth $1,902,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock worth $71,000 after buying an additional 710 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position 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 purchasing an additional 1,020 shares during the last quarter. Swiss National Bank increased its stake in shares of Vestis by 0.7% during the 4th quarter. Swiss National Bank now owns 232,750 shares of the company's stock worth $3,547,000 after purchasing an additional 1,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Vestis by 3.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock worth $681,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in Vestis in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on VSTS. Barclays dropped their price target on Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group reduced their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Robert W. Baird lowered their price target 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 equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, Vestis presently has an average rating of "Hold" and an average target price of $13.08.

Vestis Stock Down 8.6 %

NYSE VSTS traded down $0.74 on Thursday, hitting $7.85. 686,650 shares of the stock traded hands, compared to its average volume of 2,286,858. Vestis Co. has a twelve month low of $7.37 and a twelve month high of $19.50. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $1.03 billion, a P/E ratio of 97.95 and a beta of 1.55. The stock has a 50-day moving average of $11.36 and a 200 day moving average of $13.93.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the company posted $0.22 earnings per share. As a group, analysts expect that Vestis Co. will post 0.7 earnings per share 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 issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, February 21st. Vestis's dividend payout ratio (DPR) is 175.00%.

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.