Vestis Co. (NYSE:VSTS) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its stake in Vestis Co. (NYSE:VSTS) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 152,097 shares of the company’s stock after selling 24,092 shares during the period. Nordea Investment Management AB’s holdings in Vestis were worth $2,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Vestis in the 3rd quarter valued at about $27,000. Nomura Asset Management Co. Ltd. increased its position in Vestis by 104.1% during 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 acquired a new position in Vestis during the 3rd quarter worth approximately $41,000. Canada Pension Plan Investment Board acquired a new position in Vestis during the 2nd quarter worth approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Vestis during the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Price Performance

Shares of NYSE:VSTS opened at $15.98 on Friday. The business’s 50 day simple moving average is $15.44 and its 200-day simple moving average is $14.29. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 99.88 and a beta of 1.17. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37.

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

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, December 13th. Vestis’s payout ratio is currently 87.50%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted 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 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. Finally, Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the stock 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 stock. According to data from MarketBeat, Vestis presently has a consensus rating of “Hold” and a consensus price target of $14.08.

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.