Barclays PLC Buys 42,450 Shares of Vestis Co. (NYSE:VSTS)

Barclays PLC grew its holdings in Vestis Co. (NYSE:VSTS) by 445.4% in the 3rd quarter, Holdings Channel reports. The fund owned 51,981 shares of the company’s stock after purchasing an additional 42,450 shares during the quarter. Barclays PLC’s holdings in Vestis were worth $774,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VSTS. Brooklyn Investment Group bought a new stake in shares of Vestis in the third quarter worth about $27,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,020 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Vestis in the third quarter worth about $41,000. Canada Pension Plan Investment Board bought a new stake in shares of Vestis in the second quarter worth about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vestis in the third quarter worth about $51,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Up 0.8 %

NYSE:VSTS opened at $16.28 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. The company has a market cap of $2.14 billion, a PE ratio of 101.76 and a beta of 1.17. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The stock has a 50-day simple moving average of $15.60 and a 200 day simple moving average of $14.37.

Vestis (NYSE:VSTS) last issued 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). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The company had revenue of $684.28 million for the quarter, compared to analyst estimates of $693.54 million. Vestis’s revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts expect that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were given a dividend of $0.035 per share. The ex-dividend date was Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.86%. Vestis’s dividend payout ratio (DPR) is presently 87.50%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on VSTS shares. JPMorgan Chase & Co. increased their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their price objective on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays increased their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, Vestis has an average rating of “Hold” and a consensus price target of $14.08.

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.