Polar Asset Management Partners Inc. grew its position in Vestis Co. (NYSE:VSTS - Free Report) by 705.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,000 shares of the company's stock after purchasing an additional 232,100 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.20% of Vestis worth $3,948,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VSTS. AQR Capital Management LLC boosted its position in Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock worth $45,197,000 after purchasing an additional 2,591,593 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock worth $39,212,000 after purchasing an additional 1,384,413 shares in the last quarter. TOMS Capital Investment Management LP boosted its position in shares of Vestis by 22.7% in the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock worth $34,719,000 after buying an additional 430,555 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Vestis by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock valued at $32,136,000 after buying an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock valued at $18,854,000 after buying an additional 8,997 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.
Vestis Stock Down 0.4 %
NYSE:VSTS traded down $0.06 during mid-day trading on Thursday, reaching $16.30. The stock had a trading volume of 1,558,052 shares, compared to its average volume of 2,128,913. 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 company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 101.88 and a beta of 1.17. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37. The stock's 50 day simple moving average is $14.76 and its two-hundred day simple moving average is $13.58.
Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $684.28 million during the quarter, compared to analyst estimates of $693.54 million. Vestis had a return on equity of 9.07% and a net margin of 0.75%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts anticipate that Vestis Co. will post 0.66 EPS for the current year.
Vestis Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.86%. Vestis's dividend payout ratio (DPR) is 87.51%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Baird R W cut Vestis from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 8th. Barclays raised their price target on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price target on shares of Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a research note 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 objective for the company. in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Vestis currently has an average rating of "Hold" and a consensus price target of $16.91.
Check Out Our Latest Stock Analysis on Vestis
Vestis Company 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.
Featured Articles
Before you consider Vestis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vestis wasn't on the list.
While Vestis currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
