Quarry LP Has $80,000 Holdings in Vestis Co. (NYSE:VSTS)

Quarry LP raised its position in Vestis Co. (NYSE:VSTS) by 346.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,556 shares of the company’s stock after purchasing an additional 5,086 shares during the period. Quarry LP’s holdings in Vestis were worth $80,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in Vestis during the fourth quarter worth $4,646,000. Treasurer of the State of North Carolina bought a new position in shares of Vestis in the 4th quarter worth about $1,098,000. TFO Wealth Partners LLC acquired a new position in shares of Vestis in the 4th quarter valued at about $42,000. Royal London Asset Management Ltd. bought a new stake in shares of Vestis during the 4th quarter valued at about $1,196,000. Finally, Capital International Investors acquired a new stake in Vestis during the fourth quarter worth approximately $125,586,000. 97.40% of the stock is owned by institutional investors.

Vestis Price Performance

Vestis stock opened at $14.83 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67. The firm’s fifty day moving average price is $13.94 and its two-hundred day moving average price is $14.21. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts expect that Vestis Co. will post 0.64 EPS for the current year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, September 13th.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VSTS shares. Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Robert W. Baird downgraded shares of 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. Finally, The Goldman Sachs Group increased their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.