Public Employees Retirement System of Ohio Grows Stock Holdings in Vestis Co. (NYSE:VSTS)

Public Employees Retirement System of Ohio boosted its holdings in Vestis Co. (NYSE:VSTS) by 105.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 122,255 shares of the company’s stock after buying an additional 62,675 shares during the period. Public Employees Retirement System of Ohio owned 0.09% of Vestis worth $1,822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VSTS. Brooklyn Investment Group purchased a new stake in shares of Vestis during the third quarter worth about $27,000. Nomura Asset Management Co. Ltd. boosted its stake in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,020 shares during the period. Capital Performance Advisors LLP purchased a new stake in Vestis during the 3rd quarter valued at approximately $41,000. Canada Pension Plan Investment Board purchased a new stake in Vestis during the 2nd quarter valued at approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vestis during the third quarter valued at approximately $51,000. 97.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Vestis Stock Down 2.4 %

Shares of NYSE:VSTS opened at $15.72 on Thursday. The company has a 50-day moving average price of $15.02 and a 200 day moving average price of $13.85. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 98.26 and a beta of 1.17.

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

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is 87.50%.

Vestis 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.