Renaissance Technologies LLC Purchases 60,058 Shares of Vestis Co. (NYSE:VSTS)

Renaissance Technologies LLC raised its holdings in Vestis Co. (NYSE:VSTS) by 15.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 453,658 shares of the company’s stock after buying an additional 60,058 shares during the period. Renaissance Technologies LLC owned about 0.35% of Vestis worth $5,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. TFO Wealth Partners LLC bought a new stake in Vestis during the fourth quarter worth $42,000. Wahed Invest LLC bought a new stake in shares of Vestis in the 4th quarter worth $42,000. nVerses Capital LLC purchased a new stake in shares of Vestis in the second quarter valued at about $61,000. PNC Financial Services Group Inc. bought a new position in shares of Vestis during the fourth quarter valued at about $65,000. Finally, CWM LLC boosted its holdings in Vestis by 1,958.5% during the first quarter. CWM LLC now owns 4,817 shares of the company’s stock worth $93,000 after purchasing an additional 4,583 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Up 0.6 %

Vestis stock opened at $15.32 on Friday. The firm has a market capitalization of $2.01 billion and a price-to-earnings ratio of 19.14. The firm has a 50 day simple moving average of $13.68 and a 200 day simple moving average of $14.33. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67.

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

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a $0.035 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.91%. Vestis’s dividend payout ratio is currently 17.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VSTS shares. The Goldman Sachs Group upped their target price on Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Thursday, August 8th. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, William Blair initiated coverage on shares of Vestis in a report on Friday, May 31st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.69.

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.