Charles Schwab Investment Management Inc. Has $32.14 Million Stock Holdings in Vestis Co. (NYSE:VSTS)

Charles Schwab Investment Management Inc. lifted its stake in shares of Vestis Co. (NYSE:VSTS) by 9.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,156,811 shares of the company’s stock after purchasing an additional 192,525 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Vestis were worth $32,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VSTS. AQR Capital Management LLC raised its position in shares of Vestis by 223.0% during the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after purchasing an additional 2,591,593 shares during the period. Granite Investment Partners LLC acquired a new position in Vestis during the second quarter valued at $13,752,000. Assenagon Asset Management S.A. raised its position in Vestis by 99.6% during the third quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company’s stock valued at $12,287,000 after buying an additional 411,466 shares during the period. Stanley Capital Management LLC raised its position in Vestis by 524.2% during the second quarter. Stanley Capital Management LLC now owns 476,300 shares of the company’s stock valued at $5,825,000 after buying an additional 400,000 shares during the period. Finally, Annex Advisory Services LLC acquired a new position in Vestis during the second quarter valued at $3,130,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on VSTS. Barclays upped their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. The Goldman Sachs Group upped their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Vestis presently has a consensus rating of “Hold” and a consensus price target of $16.91.

Vestis Stock Performance

VSTS opened at $16.40 on Wednesday. The company has a market cap of $2.16 billion, a PE ratio of 102.48 and a beta of 1.17. The stock has a 50-day moving average of $14.72 and a 200-day moving average of $13.54. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $693.54 million. The company’s revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts forecast that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm 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 $0.035 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.85%. Vestis’s payout ratio is 87.51%.

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.