Ieq Capital LLC Buys 140,324 Shares of Vestis Co. (NYSE:VSTS)

Ieq Capital LLC raised its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 689.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,671 shares of the company's stock after buying an additional 140,324 shares during the quarter. Ieq Capital LLC owned about 0.12% of Vestis worth $2,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock worth $71,000 after buying an additional 710 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock valued at $30,000 after acquiring an additional 1,020 shares in the last quarter. KBC Group NV raised its holdings in Vestis by 51.9% in the third quarter. KBC Group NV now owns 4,741 shares of the company's stock valued at $71,000 after acquiring an additional 1,619 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Vestis by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock valued at $681,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Vestis during the third quarter worth about $27,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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Vestis Stock Performance

Shares of VSTS stock traded down $0.46 during trading on Thursday, reaching $11.91. The company had a trading volume of 1,031,887 shares, compared to its average volume of 1,329,636. Vestis Co. has a one year low of $8.92 and a one year high of $19.76. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The firm's 50 day simple moving average is $15.02 and its two-hundred day simple moving average is $14.83. The company has a market capitalization of $1.57 billion, a PE ratio of 148.83 and a beta of 1.16.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $0.22 earnings per share. Sell-side analysts forecast that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Friday, February 21st. Vestis's dividend payout ratio (DPR) is 175.00%.

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.