Royce & Associates LP Grows Stock Holdings in Vestis Co. (NYSE:VSTS)

Royce & Associates LP lifted its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 39.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 959,830 shares of the company's stock after purchasing an additional 270,441 shares during the period. Royce & Associates LP owned about 0.73% of Vestis worth $14,628,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of VSTS. Pacer Advisors Inc. purchased a new position in Vestis in the 4th quarter valued at $210,766,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Vestis by 111.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock worth $39,212,000 after buying an additional 1,384,413 shares in the last quarter. Forest Avenue Capital Management LP purchased a new position in shares of Vestis in the third quarter worth about $19,486,000. TOMS Capital Investment Management LP boosted its position in Vestis by 22.7% during the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock worth $34,719,000 after acquiring an additional 430,555 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Trading Down 1.6 %

VSTS traded down $0.16 during trading hours on Friday, reaching $9.99. The company's stock had a trading volume of 16,971,770 shares, compared to its average volume of 2,163,310. The business's 50-day moving average is $13.52 and its 200-day moving average is $14.56. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The stock has a market cap of $1.32 billion, a PE ratio of 124.89 and a beta of 1.40. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $19.76.

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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 period last year, the firm posted $0.22 EPS. As a group, equities research analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, February 21st. Vestis's dividend payout ratio is presently 175.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VSTS shares. The Goldman Sachs Group decreased their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday. Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research report on Friday, November 22nd. Robert W. Baird dropped their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.