Vestis Co. (NYSE:VSTS) Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its position in Vestis Co. (NYSE:VSTS) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,331 shares of the company’s stock after purchasing an additional 4,065 shares during the period. Amalgamated Bank’s holdings in Vestis were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in VSTS. Louisiana State Employees Retirement System raised its position in Vestis by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock worth $808,000 after acquiring an additional 1,000 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Vestis by 9.6% during the second quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after buying an additional 1,900 shares in the last quarter. Wahed Invest LLC purchased a new stake in shares of Vestis during the fourth quarter worth $42,000. TFO Wealth Partners LLC purchased a new stake in shares of Vestis during the fourth quarter worth $42,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Vestis by 1.9% during the first quarter. Texas Permanent School Fund Corp now owns 115,037 shares of the company’s stock worth $2,217,000 after buying an additional 2,124 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Down 1.4 %

Shares of VSTS opened at $15.11 on Friday. The stock has a market capitalization of $1.99 billion and a PE ratio of 18.89. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. The company’s 50-day simple moving average is $13.80 and its 200-day simple moving average is $14.31.

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

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.93%. Vestis’s payout ratio is currently 17.50%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VSTS. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, August 8th. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group upped their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.