Assenagon Asset Management S.A. Cuts Stock Holdings in Vestis Co. (NYSE:VSTS)

Assenagon Asset Management S.A. cut its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 97.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,010 shares of the company's stock after selling 806,639 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Vestis were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of VSTS. American Century Companies Inc. increased its holdings in Vestis by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 168,095 shares of the company's stock worth $2,056,000 after purchasing an additional 38,658 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Vestis by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock valued at $18,854,000 after purchasing an additional 8,997 shares during the period. Amalgamated Bank lifted its stake in shares of Vestis by 7.5% in the 2nd quarter. Amalgamated Bank now owns 58,331 shares of the company's stock worth $713,000 after acquiring an additional 4,065 shares during the period. Hsbc Holdings PLC lifted its position in Vestis by 99.9% in the second quarter. Hsbc Holdings PLC now owns 106,031 shares of the company's stock worth $1,288,000 after purchasing an additional 52,982 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Vestis during the second quarter valued at about $44,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Trading Down 0.9 %

Shares of Vestis stock traded down $0.15 during trading hours on Friday, hitting $16.09. The company's stock had a trading volume of 660,947 shares, compared to its average volume of 1,004,092. 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 stock has a 50 day moving average of $15.90 and a 200 day moving average of $14.62. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a market capitalization of $2.12 billion, a PE ratio of 100.58 and a beta of 1.17.

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

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 13th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, December 13th. Vestis's payout ratio is 87.51%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays increased their price target on Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group raised their price objective on Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.08.

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.