Vestis Co. (NYSE:VSTS) Shares Sold by State Street Corp

State Street Corp lessened its stake in shares of Vestis Co. (NYSE:VSTS) by 2.5% in the 3rd quarter, Holdings Channel reports. The firm owned 3,875,316 shares of the company’s stock after selling 97,499 shares during the period. State Street Corp’s holdings in Vestis were worth $57,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VSTS. LMR Partners LLP raised its holdings in shares of Vestis by 726.8% during the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after acquiring an additional 141,113 shares during the last quarter. HighTower Advisors LLC raised its stake in Vestis by 223.0% in the 3rd quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after purchasing an additional 249,479 shares during the last quarter. Private Management Group Inc. lifted its holdings in Vestis by 9.2% in the 2nd quarter. Private Management Group Inc. now owns 692,394 shares of the company’s stock valued at $8,468,000 after purchasing an additional 58,538 shares in the last quarter. Royce & Associates LP boosted its stake in Vestis by 10.7% during the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after purchasing an additional 66,621 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Vestis during the second quarter worth $1,627,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Down 2.4 %

Shares of NYSE VSTS opened at $15.72 on Thursday. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37. The company has a market capitalization of $2.07 billion, a P/E ratio of 98.26 and a beta of 1.17. The company has a 50 day simple moving average of $15.02 and a 200-day simple moving average of $13.85. 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 (NYSE:VSTS) last posted 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). The business had revenue of $684.28 million during the quarter, compared to analysts’ expectations of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts predict that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Announces Dividend

The business also recently declared 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 dividend yield of 0.89%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio is presently 87.50%.

Analyst Ratings Changes

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

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.