Cerity Partners LLC Increases Holdings in Vestis Co. (NYSE:VSTS)

Cerity Partners LLC grew its stake in Vestis Co. (NYSE:VSTS) by 335.7% during the third quarter, HoldingsChannel reports. The fund owned 71,578 shares of the company’s stock after acquiring an additional 55,149 shares during the quarter. Cerity Partners LLC’s holdings in Vestis were worth $1,067,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in Vestis by 1.5% in the 2nd 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 last quarter. KBC Group NV lifted its holdings in Vestis by 51.9% during the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after purchasing an additional 1,619 shares in the last quarter. Crossmark Global Holdings Inc. raised 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 valued at $266,000 after acquiring an additional 1,900 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in Vestis by 17.5% in the 3rd quarter. Everence Capital Management Inc. now owns 14,210 shares of the company’s stock valued at $212,000 after purchasing an additional 2,120 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after purchasing an additional 2,334 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

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

Vestis Trading Down 0.2 %

Shares of VSTS stock opened at $16.36 on Thursday. 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 Co. has a 1-year low of $8.92 and a 1-year high of $22.37. The business’s fifty day moving average price is $14.74 and its 200 day moving average price is $13.56. The firm has a market capitalization of $2.15 billion, a PE ratio of 102.25 and a beta of 1.17.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $684.28 million during the quarter, compared to analysts’ expectations of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 13th. Vestis’s payout ratio is 87.50%.

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.