Y Intercept Hong Kong Ltd reduced its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 70.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,806 shares of the company's stock after selling 34,734 shares during the period. Y Intercept Hong Kong Ltd's holdings in Vestis were worth $221,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Vestis by 223.0% in the 2nd 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 period. Jacobs Levy Equity Management Inc. boosted its position in 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 grew its holdings in Vestis by 22.7% in the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock valued at $34,719,000 after purchasing an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 stake 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 worth $18,854,000 after buying an additional 8,997 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently commented on VSTS shares. Barclays increased their price objective 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. JPMorgan Chase & Co. increased their price target 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 raised their price objective 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.73.
View Our Latest Research Report on VSTS
Vestis Trading Down 0.8 %
Shares of NYSE VSTS traded down $0.13 during midday trading on Thursday, reaching $15.59. 3,397,106 shares of the stock were exchanged, compared to its average volume of 2,130,439. The stock has a 50 day moving average price of $15.04 and a 200-day moving average price of $13.86. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $2.05 billion, a P/E ratio of 97.44 and a beta of 1.17. 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 released 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). 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. The firm's quarterly revenue was down 4.4% on a year-over-year basis. Equities research analysts expect that Vestis Co. will post 0.66 earnings per share for the current fiscal year.
Vestis Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders 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 annualized dividend and a dividend yield of 0.90%. Vestis's payout ratio is currently 87.50%.
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.
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