Vestis Co. (NYSE:VSTS) Stake Cut by Vision One Management Partners LP

Vision One Management Partners LP lowered its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 22.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,568,820 shares of the company's stock after selling 449,824 shares during the quarter. Vestis accounts for about 15.9% of Vision One Management Partners LP's portfolio, making the stock its 4th largest position. Vision One Management Partners LP owned about 1.19% of Vestis worth $23,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Vestis by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 80,179 shares of the company's stock worth $1,546,000 after purchasing an additional 3,669 shares during the period. CWM LLC increased its position in Vestis by 174.9% during the second quarter. CWM LLC now owns 13,240 shares of the company's stock valued at $162,000 after acquiring an additional 8,423 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Vestis in the second quarter valued at $125,000. Assenagon Asset Management S.A. boosted its stake in shares of Vestis by 1,153.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 413,183 shares of the company's stock worth $5,053,000 after purchasing an additional 380,223 shares during the period. Finally, Raymond James & Associates purchased a new position in shares of Vestis during the 2nd quarter worth about $1,205,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Up 0.2 %

NYSE VSTS traded up $0.03 during trading on Friday, reaching $16.33. 1,329,404 shares of the company's stock traded hands, compared to its average volume of 1,779,889. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 102.01 and a beta of 1.17. The company's 50 day simple moving average is $14.78 and its two-hundred day simple moving average is $13.61.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $684.28 million for the quarter, compared to analysts' expectations of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. Vestis's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.