Zurcher Kantonalbank Zurich Cantonalbank Buys Shares of 29,210 Vestis Co. (NYSE:VSTS)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Vestis Co. (NYSE:VSTS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 29,210 shares of the company’s stock, valued at approximately $617,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sound Income Strategies LLC bought a new stake in Vestis during the fourth quarter worth approximately $25,000. CI Investments Inc. bought a new stake in shares of Vestis during the 3rd quarter worth $28,000. S.A. Mason LLC bought a new stake in shares of Vestis during the 4th quarter worth $52,000. Rosenberg Matthew Hamilton acquired a new position in Vestis in the 4th quarter valued at $55,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Vestis in the 4th quarter worth $89,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Trading Up 0.2 %

Vestis stock opened at $18.45 on Thursday. Vestis Co. has a 12 month low of $13.83 and a 12 month high of $22.37. The business has a 50 day moving average price of $18.78 and a two-hundred day moving average price of $18.77. 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 (NYSE:VSTS) last issued 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. Vestis’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts predict that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.76%.

Insider Activity at Vestis

In other Vestis news, CEO Kim Scott purchased 15,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the purchase, the chief executive officer now directly owns 183,131 shares in the company, valued at $3,505,127.34. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

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

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.