Quantinno Capital Management LP Invests $164,000 in Vestis Co. (NYSE:VSTS)

Quantinno Capital Management LP bought a new stake in Vestis Co. (NYSE:VSTS) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,033 shares of the company’s stock, valued at approximately $164,000.

Other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in shares of 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 last quarter. KBC Group NV grew its position in Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after purchasing an additional 1,619 shares during the last quarter. Brooklyn Investment Group purchased a new position in Vestis during the 3rd quarter worth $27,000. Crossmark Global Holdings Inc. increased its stake in Vestis by 9.6% in the second quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock valued at $266,000 after purchasing an additional 1,900 shares during the period. Finally, Everence Capital Management Inc. boosted its stake in shares of Vestis by 17.5% during the third quarter. Everence Capital Management Inc. now owns 14,210 shares of the company’s stock worth $212,000 after buying an additional 2,120 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Performance

Shares of VSTS stock opened at $16.35 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $14.94 and a 200-day simple moving average of $13.78. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 102.19 and a beta of 1.17. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37.

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

Vestis Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VSTS shares. JPMorgan Chase & Co. boosted their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group lifted their target price on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.73.

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.