S.A. Mason LLC Buys New Position in Vestis Co. (NYSE:VSTS)

S.A. Mason LLC purchased a new position in shares of Vestis Co. (NYSE:VSTS) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,450 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC acquired a new position in Vestis during the fourth quarter valued at approximately $25,000. CI Investments Inc. purchased a new stake in Vestis during the 3rd quarter worth $28,000. Rosenberg Matthew Hamilton acquired a new stake in Vestis in the 4th quarter valued at $55,000. Sanders Morris Harris LLC purchased a new position in Vestis in the fourth quarter valued at about $217,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Vestis in the fourth quarter worth about $223,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Price Performance

Vestis stock opened at $18.95 on Thursday. The company has a quick ratio of 2.23, a current ratio of 2.61 and a debt-to-equity ratio of 1.73. Vestis Co. has a 52-week low of $13.83 and a 52-week high of $22.37. The firm’s 50-day moving average price is $19.60.

Vestis (NYSE:VSTS) last announced its earnings results on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $717.90 million during the quarter, compared to analysts’ expectations of $724.72 million. The company’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Vestis Co. will post 1.03 EPS for the current year.

Vestis Announces Dividend

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

Analysts Set New Price Targets

VSTS has been the subject of several analyst reports. Wolfe Research assumed coverage on shares of Vestis in a research note on Thursday, January 11th. They issued an “outperform” rating and a $24.00 target price for the company. Wells Fargo & Company began coverage on Vestis in a research note on Friday, December 15th. They set an “overweight” rating and a $24.00 target price for the company. Barclays downgraded Vestis from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $17.00 to $19.00 in a report on Wednesday, February 28th. Stifel Nicolaus lifted their price objective on Vestis from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. Finally, The Goldman Sachs Group began coverage on Vestis in a research note on Thursday, January 25th. They set a “neutral” rating and a $22.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Vestis has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Insider Activity

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

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.