Vestis Co. (NYSE:VSTS) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Vestis Co. (NYSE:VSTS) by 143.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,960 shares of the company’s stock after purchasing an additional 2,334 shares during the quarter. GAMMA Investing LLC’s holdings in Vestis were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of VSTS. Wellington Management Group LLP purchased a new stake in Vestis during the fourth quarter worth $56,431,000. Vanguard Group Inc. purchased a new stake in Vestis in the 4th quarter valued at approximately $302,586,000. PNC Financial Services Group Inc. acquired a new position in shares of Vestis in the fourth quarter worth $65,000. CWM LLC boosted its stake in shares of Vestis by 1,958.5% during the first quarter. CWM LLC now owns 4,817 shares of the company’s stock valued at $93,000 after acquiring an additional 4,583 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Vestis by 2,290.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 101,064 shares of the company’s stock valued at $1,948,000 after acquiring an additional 96,836 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Trading Up 0.5 %

VSTS stock opened at $15.11 on Thursday. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The company has a 50 day moving average of $14.38 and a two-hundred day moving average of $13.96.

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

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were paid a $0.035 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.93%.

Wall Street Analyst Weigh In

A number of research firms have 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 on the stock. in a report on Thursday, August 8th. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Vestis has an average rating of “Hold” and an average target price of $16.69.

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.