Vestis Co. (NYSE:VSTS) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 571,625 shares of the company's stock after purchasing an additional 52,247 shares during the period. Russell Investments Group Ltd. owned about 0.43% of Vestis worth $8,712,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of Vestis during the third quarter worth $201,000. Quantinno Capital Management LP acquired a new stake in Vestis during the third quarter worth about $164,000. Nomura Asset Management Co. Ltd. lifted its holdings in Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock worth $30,000 after acquiring an additional 1,020 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Vestis by 105.2% in the third quarter. Public Employees Retirement System of Ohio now owns 122,255 shares of the company's stock valued at $1,822,000 after acquiring an additional 62,675 shares during the period. Finally, Barclays PLC grew its holdings in shares of Vestis by 445.4% during the third quarter. Barclays PLC now owns 51,981 shares of the company's stock valued at $774,000 after purchasing an additional 42,450 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Performance

Shares of VSTS traded down $0.22 during trading hours on Tuesday, reaching $7.76. 1,610,656 shares of the company's stock traded hands, compared to its average volume of 2,297,125. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 97.06 and a beta of 1.55. The business's fifty day simple moving average is $10.89 and its two-hundred day simple moving average is $13.72. Vestis Co. has a twelve month low of $7.37 and a twelve month high of $19.11. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

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Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results 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 net margin of 0.34% and a return on equity of 7.91%. During the same quarter in the prior year, the business posted $0.22 EPS. Analysts predict that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were paid a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.80%. Vestis's dividend payout ratio is currently 175.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VSTS. The Goldman Sachs Group reduced their price objective on 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 lowered their price target on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Finally, Barclays cut their price objective on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, April 4th. One 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, the company currently has an average rating of "Hold" and an average target price of $13.08.

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.