Delap Wealth Advisory LLC Invests $157,000 in Vestis Co. (NYSE:VSTS)

Delap Wealth Advisory LLC bought a new stake in Vestis Co. (NYSE:VSTS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,864 shares of the company’s stock, valued at approximately $157,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. increased its stake in Vestis by 11.3% in the second quarter. Sei Investments Co. now owns 128,748 shares of the company’s stock valued at $1,575,000 after acquiring an additional 13,120 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Vestis in the 2nd quarter valued at approximately $44,000. Granite Investment Partners LLC bought a new stake in shares of Vestis in the 2nd quarter valued at approximately $13,752,000. Seven Eight Capital LP bought a new stake in shares of Vestis in the 2nd quarter valued at approximately $1,627,000. Finally, Hsbc Holdings PLC grew its stake in shares of Vestis by 99.9% in the 2nd quarter. Hsbc Holdings PLC now owns 106,031 shares of the company’s stock valued at $1,288,000 after purchasing an additional 52,982 shares during the period. 97.40% of the stock is owned by institutional investors.

Vestis Stock Up 0.7 %

NYSE VSTS opened at $15.71 on Friday. The stock has a fifty day moving average of $13.51 and a 200-day moving average of $14.40. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02.

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

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a $0.035 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.89%.

Analysts Set New Price Targets

Several research firms have recently weighed in on VSTS. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research note on Thursday, August 8th. Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. The Goldman Sachs Group upped their price objective on Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, William Blair began coverage on Vestis in a research note on Friday, May 31st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.69.

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.