Vestis Co. (NYSE:VSTS) Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its holdings in shares of Vestis Co. (NYSE:VSTS) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 685,828 shares of the company’s stock after selling 4,534 shares during the period. Private Management Group Inc.’s holdings in Vestis were worth $10,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VSTS. Pacer Advisors Inc. purchased a new position in Vestis during the fourth quarter worth approximately $210,766,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Vestis by 111.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after buying an additional 1,384,413 shares in the last quarter. Forest Avenue Capital Management LP acquired a new stake in Vestis in the 3rd quarter valued at $19,486,000. TOMS Capital Investment Management LP increased its holdings 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 in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Vestis by 99.6% during the third quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company’s stock worth $12,287,000 after acquiring an additional 411,466 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Vestis Stock Down 0.7 %

VSTS stock opened at $13.57 on Thursday. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 169.63 and a beta of 1.17. The firm has a 50-day moving average of $15.91 and a two-hundred day moving average of $14.75. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.32. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping 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 prior year, the business earned $0.22 EPS. As a group, analysts forecast that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Announces Dividend

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

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.