State of Alaska Department of Revenue Sells 11,901 Shares of Vestis Co. (NYSE:VSTS)

State of Alaska Department of Revenue decreased its position in Vestis Co. (NYSE:VSTS) by 15.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,277 shares of the company’s stock after selling 11,901 shares during the quarter. State of Alaska Department of Revenue’s holdings in Vestis were worth $972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. DAVENPORT & Co LLC acquired a new position in Vestis during the 1st quarter worth $21,712,000. Lord Abbett & CO. LLC acquired a new position in shares of Vestis during the 1st quarter worth about $7,364,000. SG Americas Securities LLC boosted its stake in Vestis by 617.8% during the 1st quarter. SG Americas Securities LLC now owns 75,697 shares of the company’s stock valued at $1,459,000 after purchasing an additional 65,151 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Vestis in the 1st quarter valued at approximately $1,069,000. Finally, Illinois Municipal Retirement Fund bought a new position in Vestis in the 1st quarter worth approximately $1,457,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VSTS shares. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Thursday, August 8th. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price objective 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Vestis presently has a consensus rating of “Hold” and an average target price of $16.69.

Vestis Trading Up 1.9 %

NYSE:VSTS opened at $13.50 on Wednesday. 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 Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The firm has a 50-day moving average price of $14.64 and a 200 day moving average price of $13.45.

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

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.04%.

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.