nVerses Capital LLC Purchases Shares of 5,000 Vestis Co. (NYSE:VSTS)

nVerses Capital LLC acquired a new position in Vestis Co. (NYSE:VSTS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wahed Invest LLC acquired a new stake in Vestis during the fourth quarter valued at $42,000. TFO Wealth Partners LLC purchased a new position in shares of Vestis in the 4th quarter valued at about $42,000. PNC Financial Services Group Inc. purchased a new position in shares of Vestis in the 4th quarter valued at about $65,000. CWM LLC raised its holdings in Vestis by 1,958.5% in the 1st quarter. CWM LLC now owns 4,817 shares of the company’s stock worth $93,000 after purchasing an additional 4,583 shares during the period. Finally, Wedmont Private Capital purchased a new position in Vestis during the second quarter worth approximately $125,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

VSTS has been the subject of several research analyst reports. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Thursday, August 8th. William Blair initiated coverage on shares of Vestis in a research report on Friday, May 31st. They set a “market perform” rating for the company. The Goldman Sachs Group lifted their target price on shares of Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.69.

Vestis Stock Performance

NYSE VSTS opened at $13.68 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02. The stock’s fifty day moving average is $12.70 and its two-hundred day moving average is $14.75. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $698.20 million during the quarter, compared to analyst estimates of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that Vestis Co. will post 0.64 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 13th.

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.