Alberta Investment Management Corp Sells 152,600 Shares of Vestis Co. (NYSE:VSTS)

Alberta Investment Management Corp decreased its position in Vestis Co. (NYSE:VSTS) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,718,833 shares of the company’s stock after selling 152,600 shares during the quarter. Alberta Investment Management Corp owned 2.82% of Vestis worth $56,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in Vestis in the 4th quarter worth approximately $210,766,000. Jacobs Levy Equity Management Inc. increased its stake in Vestis by 111.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock worth $39,212,000 after acquiring an additional 1,384,413 shares during the last quarter. TOMS Capital Investment Management LP increased its stake in Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after acquiring an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Vestis by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock valued at $32,136,000 after purchasing an additional 192,525 shares during the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in shares of Vestis during the 3rd quarter valued at approximately $19,486,000. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VSTS shares. JPMorgan Chase & Co. boosted their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group boosted their target price on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, Vestis currently has a consensus rating of “Hold” and an average target price of $14.08.

Vestis Price Performance

VSTS opened at $13.55 on Wednesday. The business has a fifty day moving average of $15.45 and a 200 day moving average of $14.82. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $20.07. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The stock has a market cap of $1.78 billion, a P/E ratio of 169.33 and a beta of 1.16.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, sell-side analysts anticipate that Vestis Co. will post 0.7 EPS for the current year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, February 21st. Vestis’s dividend payout ratio is 175.02%.

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.