Fmr LLC Trims Stake in Vestis Co. (NYSE:VSTS)

Fmr LLC lowered its position in Vestis Co. (NYSE:VSTS) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,610,647 shares of the company’s stock after selling 579,989 shares during the period. Fmr LLC owned approximately 0.07% of Vestis worth $143,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of Vestis during the 3rd quarter worth approximately $41,000. Canada Pension Plan Investment Board bought a new stake in shares of Vestis during the second quarter worth $44,000. GAMMA Investing LLC boosted its stake in shares of Vestis by 143.5% during the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after purchasing an additional 2,334 shares during the period. Copeland Capital Management LLC bought a new position in shares of Vestis in the third quarter worth about $60,000. Finally, nVerses Capital LLC purchased a new position in Vestis in the 2nd quarter worth about $61,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Trading Up 0.5 %

Shares of NYSE VSTS opened at $16.40 on Wednesday. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37. The business has a fifty day moving average price of $14.72 and a 200 day moving average price of $13.54. The stock has a market capitalization of $2.16 billion, a P/E ratio of 102.48 and a beta of 1.17. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The firm had revenue of $684.28 million for the quarter, compared to analysts’ expectations of $693.54 million. Vestis’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts expect that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio is currently 87.51%.

Analyst Ratings Changes

VSTS has been the subject of several research reports. Robert W. Baird cut shares of 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. The Goldman Sachs Group boosted their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.91.

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.