Vestis Co. (NYSE:VSTS) Stock Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 104.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,085 shares of the company's stock after purchasing an additional 66,534 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Vestis worth $1,982,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in shares of Vestis in the third quarter worth about $27,000. Spire Wealth Management acquired a new position in Vestis during the 4th quarter worth approximately $29,000. Nomura Asset Management Co. Ltd. boosted its holdings in Vestis by 104.1% in the 3rd 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 period. Smartleaf Asset Management LLC grew its position in Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock valued at $38,000 after acquiring an additional 2,123 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vestis in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research note on Friday, November 22nd. The Goldman Sachs Group decreased their price objective on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday. Robert W. Baird dropped their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.68.

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Vestis Stock Down 1.6 %

VSTS stock traded down $0.16 during mid-day trading on Friday, hitting $9.99. 4,576,645 shares of the company were exchanged, compared to its average volume of 2,163,042. The company has a market capitalization of $1.32 billion, a PE ratio of 124.89 and a beta of 1.40. The firm has a fifty day simple moving average of $13.52 and a 200 day simple moving average of $14.56. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. Vestis Co. has a twelve month low of $8.92 and a twelve month high of $19.76.

Vestis (NYSE:VSTS - Get Free Report) last posted 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 return on equity of 7.91% and a net margin of 0.34%. During the same period in the prior year, the business earned $0.22 earnings per share. On average, research analysts forecast that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

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