State Street Corp Has $57.89 Million Position in Vestis Co. (NYSE:VSTS)

State Street Corp trimmed its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,875,316 shares of the company's stock after selling 97,499 shares during the quarter. State Street Corp owned about 2.95% of Vestis worth $57,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock worth $45,197,000 after acquiring an additional 2,591,593 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Vestis by 111.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock worth $39,212,000 after buying an additional 1,384,413 shares during the period. TOMS Capital Investment Management LP boosted its position in Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock valued at $34,719,000 after buying an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Vestis by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock valued at $32,136,000 after purchasing an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Vestis by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock valued at $18,854,000 after acquiring an additional 8,997 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Performance

Shares of Vestis stock traded down $0.13 during trading on Thursday, reaching $15.59. The company's stock had a trading volume of 3,397,106 shares, compared to its average volume of 2,130,439. The business's fifty day moving average price is $15.02 and its 200-day moving average price is $13.85. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 97.44 and a beta of 1.17. 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 one year low of $8.92 and a one year 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 analysts' consensus estimates of $0.13 by ($0.02). The firm had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The company's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.90%. Vestis's dividend payout ratio is currently 87.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VSTS shares. 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. JPMorgan Chase & Co. upped their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, Barclays raised 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Vestis has a consensus rating of "Hold" and an average price target of $15.73.

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.