Vestis Co. (NYSE:VSTS) Shares Bought by Quarry LP

Quarry LP lifted its position in Vestis Co. (NYSE:VSTS - Free Report) by 1,881.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,888 shares of the company's stock after acquiring an additional 123,332 shares during the quarter. Quarry LP owned 0.10% of Vestis worth $1,935,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Vestis in the third quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in Vestis in the 3rd quarter worth about $41,000. Canada Pension Plan Investment Board purchased a new position in shares of Vestis during the second quarter worth approximately $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vestis in the third quarter valued at approximately $51,000. Finally, GAMMA Investing LLC grew its stake in Vestis by 143.5% in the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock worth $59,000 after purchasing an additional 2,334 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Performance

Shares of Vestis stock traded down $0.09 during trading on Thursday, hitting $16.27. 633,949 shares of the company's stock were exchanged, compared to its average volume of 2,124,661. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 102.26 and a beta of 1.17. The business has a 50-day simple moving average of $14.74 and a 200-day simple moving average of $13.56. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37.

Vestis (NYSE:VSTS - Get Free Report) last posted its earnings results 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 firm had revenue of $684.28 million for the quarter, compared to analysts' expectations of $693.54 million. Vestis had a return on equity of 9.07% and a net margin of 0.75%. Vestis's quarterly revenue was down 4.4% on a year-over-year basis. On average, research analysts forecast that Vestis Co. will post 0.66 EPS for the current year.

Vestis Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VSTS shares. Barclays lifted their target price on Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research report on Friday, November 22nd. Robert W. Baird cut shares of Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price target on the stock. in a report on Thursday, August 8th. Baird R W lowered shares of Vestis from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 8th. The Goldman Sachs Group increased 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Vestis has a consensus rating of "Hold" and a consensus target price of $16.91.

About Vestis

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.