Topline Capital Management LLC Buys Shares of 451,442 Vestis Co. (NYSE:VSTS)

Topline Capital Management LLC acquired a new stake in Vestis Co. (NYSE:VSTS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 451,442 shares of the company's stock, valued at approximately $6,880,000. Vestis comprises about 1.3% of Topline Capital Management LLC's holdings, making the stock its 15th largest position. Topline Capital Management LLC owned 0.34% of Vestis at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of VSTS. Pacer Advisors Inc. bought a new stake in Vestis in the 4th quarter valued at about $210,766,000. First Trust Advisors LP acquired a new position in Vestis in the 4th quarter worth about $22,936,000. Birnam Oak Advisors LP bought a new position in Vestis in the 4th quarter valued at approximately $21,446,000. Dimensional Fund Advisors LP grew its stake in shares of Vestis by 46.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock worth $47,172,000 after purchasing an additional 980,303 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Vestis by 35.9% in the fourth quarter. Marshall Wace LLP now owns 1,595,446 shares of the company's stock valued at $24,315,000 after buying an additional 421,297 shares during the period. Institutional investors own 97.40% of the company's stock.

Wall Street Analyst Weigh In

VSTS has been the subject of a number of research reports. 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 note on Monday, March 17th. Barclays decreased their target price on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday, April 4th. Finally, Robert W. Baird dropped their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.08.

Vestis Trading Up 0.2 %

VSTS stock traded up $0.02 during midday trading on Monday, hitting $8.82. The company had a trading volume of 1,395,810 shares, compared to its average volume of 2,320,542. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 110.26 and a beta of 1.55. Vestis Co. has a 52 week low of $7.35 and a 52 week high of $18.99. 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 stock's 50 day moving average price is $9.98 and its 200 day moving average price is $13.34.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating 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 firm earned $0.22 earnings per share. As a group, equities research analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, February 21st. Vestis's payout ratio is presently 175.00%.

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.