Vestis Co. (NYSE:VSTS) Shares Acquired by Riverwater Partners LLC

Riverwater Partners LLC increased its holdings in shares of Vestis Co. (NYSE:VSTS) by 47.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 124,819 shares of the company’s stock after buying an additional 40,216 shares during the period. Vestis accounts for about 0.9% of Riverwater Partners LLC’s holdings, making the stock its 29th largest holding. Riverwater Partners LLC’s holdings in Vestis were worth $1,902,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Spire Wealth Management acquired a new stake in shares of Vestis in the 4th quarter worth $29,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,020 shares during the period. Smartleaf Asset Management LLC increased its position in Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vestis during the third quarter worth about $51,000. Finally, GAMMA Investing LLC boosted its holdings in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after purchasing an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Robert W. Baird cut their price target on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group cut their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Barclays decreased their price target on Vestis from $13.00 to $10.00 and set an “underweight” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Vestis presently has a consensus rating of “Hold” and a consensus price target of $13.08.

Vestis Stock Down 12.3 %

NYSE:VSTS opened at $7.93 on Friday. Vestis Co. has a 52 week low of $7.89 and a 52 week high of $19.76. 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’s fifty day moving average is $12.10 and its two-hundred day moving average is $14.19. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 99.15 and a beta of 1.40.

Vestis (NYSE:VSTS) last announced its earnings results on Friday, January 31st. The company reported $0.14 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 business posted $0.22 earnings per share. Research analysts anticipate that Vestis Co. will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.77%. Vestis’s dividend payout ratio (DPR) is presently 175.00%.

About Vestis

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.