18,303 Shares in Vestis Co. (NYSE:VSTS) Bought by Truist Financial Corp

Truist Financial Corp purchased a new stake in Vestis Co. (NYSE:VSTS) during the second quarter, according to its most recent filing with the SEC. The fund purchased 18,303 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds have also bought and sold shares of VSTS. Louisiana State Employees Retirement System increased its holdings in shares of Vestis by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock worth $808,000 after purchasing an additional 1,000 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of 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 acquiring an additional 1,900 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Vestis by 1.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 115,037 shares of the company’s stock valued at $2,217,000 after acquiring an additional 2,124 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Vestis by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 120,230 shares of the company’s stock valued at $2,317,000 after purchasing an additional 2,686 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new stake in Vestis during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

Shares of NYSE:VSTS opened at $15.23 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. The business has a 50 day simple moving average of $14.47 and a two-hundred day simple moving average of $13.91. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings data 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 company had revenue of $698.20 million for the quarter, compared to the consensus estimate of $688.33 million. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Vestis Co. will post 0.64 EPS for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were issued 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 yield of 0.92%.

Analyst Ratings Changes

A number of equities analysts have commented on VSTS shares. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, August 8th. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their target price on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.69.

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.