Vestis Co. (NYSE:VSTS) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in shares of Vestis Co. (NYSE:VSTS) by 99.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 824,649 shares of the company’s stock after acquiring an additional 411,466 shares during the period. Assenagon Asset Management S.A.’s holdings in Vestis were worth $12,287,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VSTS. Louisiana State Employees Retirement System boosted its stake in Vestis by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock valued at $808,000 after acquiring an additional 1,000 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Vestis by 9.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after buying an additional 1,900 shares during the last quarter. Everence Capital Management Inc. increased its position in 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. Texas Permanent School Fund Corp lifted its stake in Vestis by 1.9% in the first quarter. Texas Permanent School Fund Corp now owns 115,037 shares of the company’s stock valued at $2,217,000 after buying an additional 2,124 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Vestis by 143.5% in the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after acquiring an additional 2,334 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VSTS. Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a research report on Thursday, August 8th. The Goldman Sachs Group increased their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.69.

Vestis Price Performance

Shares of NYSE:VSTS opened at $13.99 on Monday. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a 50-day moving average price of $14.62 and a 200 day moving average price of $13.75. The company has a market cap of $1.84 billion and a P/E ratio of 18.91. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67.

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

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.035 per share. The ex-dividend date was Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.00%. Vestis’s dividend payout ratio (DPR) is presently 18.92%.

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.