Verition Fund Management LLC Purchases 49,302 Shares of Vestis Co. (NYSE:VSTS)

Verition Fund Management LLC boosted its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 70.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,378 shares of the company's stock after purchasing an additional 49,302 shares during the period. Verition Fund Management LLC owned about 0.09% of Vestis worth $1,779,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Vestis by 223.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock valued at $45,197,000 after purchasing an additional 2,591,593 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Vestis by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock worth $32,136,000 after buying an additional 192,525 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock worth $18,854,000 after acquiring an additional 8,997 shares in the last quarter. Forest Avenue Capital Management LP bought a new position in shares of Vestis in the 3rd quarter valued at approximately $19,486,000. Finally, Granite Investment Partners LLC acquired a new stake in Vestis in the 2nd quarter worth approximately $13,752,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their price objective on Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $16.91.

Vestis Trading Up 0.2 %

VSTS stock traded up $0.03 during trading on Friday, hitting $16.33. The company had a trading volume of 1,329,404 shares, compared to its average volume of 1,779,889. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 102.07 and a beta of 1.17. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $14.78 and a 200-day moving average price of $13.61. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The firm had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts predict that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be paid a $0.035 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%. Vestis's payout ratio is presently 87.51%.

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.