Principal Financial Group Inc. Has $8.46 Million Position in Vestis Co. (NYSE:VSTS)

Principal Financial Group Inc. raised its stake in shares of Vestis Co. (NYSE:VSTS) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 555,225 shares of the company’s stock after purchasing an additional 15,176 shares during the quarter. Principal Financial Group Inc.’s holdings in Vestis were worth $8,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of VSTS. GAMMA Investing LLC lifted its position in shares of Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after purchasing an additional 710 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,020 shares during the period. KBC Group NV grew its stake in shares of Vestis by 51.9% in the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after acquiring an additional 1,619 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Vestis by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock worth $681,000 after acquiring an additional 1,735 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Vestis during the 3rd quarter valued at $27,000. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

VSTS has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays boosted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.08.

Vestis Trading Down 0.8 %

Vestis stock opened at $11.84 on Friday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 148.02 and a beta of 1.16. The firm has a 50-day moving average of $14.85 and a 200-day moving average of $14.81. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. Vestis Co. has a one year low of $8.92 and a one year high of $19.76.

Vestis (NYSE:VSTS) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the previous year, the business posted $0.22 EPS. On average, equities analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.18%. Vestis’s dividend payout ratio (DPR) is presently 175.00%.

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.