Vestis Co. (NYSE:VSTS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,879,468 shares of the company's stock after selling 204,854 shares during the period. Wellington Management Group LLP owned 2.19% of Vestis worth $43,883,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Captrust Financial Advisors purchased a new position in shares of Vestis during the third quarter valued at about $201,000. Verition Fund Management LLC grew its position in shares of Vestis by 70.4% during the third quarter. Verition Fund Management LLC now owns 119,378 shares of the company's stock valued at $1,779,000 after purchasing an additional 49,302 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vestis during the third quarter valued at about $51,000. HighTower Advisors LLC grew its position in shares of Vestis by 223.0% during the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company's stock valued at $5,386,000 after purchasing an additional 249,479 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Vestis by 19.6% during the third quarter. Point72 Asset Management L.P. now owns 255,029 shares of the company's stock valued at $3,800,000 after purchasing an additional 41,833 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Trading Down 6.6 %

NYSE VSTS traded down $0.57 during trading on Thursday, hitting $8.02. The stock had a trading volume of 343,579 shares, compared to its average volume of 2,285,482. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 100.51 and a beta of 1.55. Vestis Co. has a one year low of $7.37 and a one year high of $19.50. The stock has a 50 day simple moving average of $11.36 and a 200 day simple moving average of $13.93.

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Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Sell-side analysts predict that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, February 21st. Vestis's dividend payout ratio is currently 175.00%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays lowered their price target on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. Finally, Robert W. Baird lowered their price target on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $13.08.

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.