27,468 Shares in Vestis Co. (NYSE:VSTS) Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in Vestis Co. (NYSE:VSTS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,468 shares of the company’s stock, valued at approximately $581,000.

Several other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of Vestis during the 4th quarter worth about $25,000. CI Investments Inc. bought a new position in shares of Vestis during the 3rd quarter worth about $28,000. S.A. Mason LLC bought a new position in shares of Vestis during the 4th quarter worth about $52,000. Rosenberg Matthew Hamilton bought a new position in shares of Vestis during the 4th quarter worth about $55,000. Finally, Sanders Morris Harris LLC bought a new position in shares of Vestis during the 4th quarter worth about $217,000. Institutional investors own 97.40% of the company’s stock.

Insider Buying and Selling at Vestis

In related news, CEO Kim Scott bought 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $19.14 per share, with a total value of $287,100.00. Following the completion of the purchase, the chief executive officer now owns 183,131 shares in the company, valued at approximately $3,505,127.34. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Vestis in a research report on Thursday, January 25th. They set a “neutral” rating and a $22.00 target price on the stock. Barclays lowered shares of Vestis from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $17.00 to $19.00 in a research report on Wednesday, February 28th. Finally, Wolfe Research assumed coverage on shares of Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Vestis has a consensus rating of “Moderate Buy” and an average target price of $22.56.

Vestis Stock Up 0.7 %

NYSE:VSTS opened at $18.83 on Friday. Vestis Co. has a 12 month low of $13.83 and a 12 month high of $22.37. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61. The company’s 50-day moving average price is $18.82 and its two-hundred day moving average price is $18.65.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $724.72 million. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that Vestis Co. will post 1.03 EPS for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.74%.

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.