Wellington Management Group LLP Trims Stock Position in Vestis Co. (NYSE:VSTS)

Wellington Management Group LLP lowered its position in Vestis Co. (NYSE:VSTS - Free Report) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,084,322 shares of the company's stock after selling 298,472 shares during the period. Wellington Management Group LLP owned about 2.35% of Vestis worth $45,956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its holdings in shares of Vestis by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company's stock valued at $808,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV boosted its holdings in shares of Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company's stock valued at $71,000 after purchasing an additional 1,619 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Vestis during the 3rd quarter valued at about $27,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Vestis by 9.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company's stock valued at $266,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Everence Capital Management Inc. boosted its holdings in shares of Vestis by 17.5% during the 3rd quarter. Everence Capital Management Inc. now owns 14,210 shares of the company's stock valued at $212,000 after purchasing an additional 2,120 shares during the last quarter. Institutional investors own 97.40% of the company's stock.

Vestis Trading Down 0.1 %

Vestis stock traded down $0.02 during midday trading on Thursday, reaching $16.46. The stock had a trading volume of 613,934 shares, compared to its average volume of 2,125,338. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 102.88 and a beta of 1.17. The company has a fifty day moving average of $14.88 and a 200 day moving average of $13.70.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million during the quarter, compared to analysts' expectations of $693.54 million. Vestis's quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts anticipate that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, December 13th. Vestis's dividend payout ratio (DPR) is currently 87.51%.

Wall Street Analyst Weigh In

Several research firms have commented on VSTS. Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group upped their target price 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.91.

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.