Charles Schwab Investment Management Inc. lifted its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 17.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,538,882 shares of the company's stock after acquiring an additional 382,071 shares during the period. Charles Schwab Investment Management Inc. owned 1.93% of Vestis worth $38,693,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in VSTS. Brooklyn Investment Group purchased a new position in shares of Vestis during the third quarter worth about $27,000. Spire Wealth Management acquired a new stake in shares of Vestis in the 4th quarter valued at about $29,000. Nomura Asset Management Co. Ltd. grew its stake in Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock worth $30,000 after buying an additional 1,020 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock worth $38,000 after buying an additional 2,123 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Vestis during the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 97.40% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on VSTS. The Goldman Sachs Group decreased their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday. JPMorgan Chase & Co. increased 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, Barclays lifted their price objective 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. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, Vestis currently has a consensus rating of "Hold" and a consensus price target of $13.68.
Check Out Our Latest Research Report on Vestis
Vestis Stock Performance
NYSE:VSTS traded down $0.79 during midday trading on Wednesday, reaching $10.14. The stock had a trading volume of 5,489,509 shares, compared to its average volume of 1,558,877. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The stock has a market cap of $1.34 billion, a P/E ratio of 126.58 and a beta of 1.40. The firm has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $14.62. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $19.76.
Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the business earned $0.22 EPS. On average, equities analysts expect that Vestis Co. will post 0.7 EPS for the current year.
Vestis Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.38%. Vestis's dividend payout ratio is currently 175.00%.
Vestis Profile
(
Free Report)
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.
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