Vestis Co. (NYSE:VSTS) Stock Position Increased by Annex Advisory Services LLC

Annex Advisory Services LLC boosted its position in shares of Vestis Co. (NYSE:VSTS) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,899 shares of the company’s stock after buying an additional 34,951 shares during the quarter. Annex Advisory Services LLC owned 0.22% of Vestis worth $4,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VSTS. HighTower Advisors LLC boosted its position in shares of Vestis by 223.0% during 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 in the last quarter. LMR Partners LLP grew its position in Vestis by 726.8% in the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock worth $2,392,000 after buying an additional 141,113 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Vestis by 10.7% in the third quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock valued at $10,272,000 after buying an additional 66,621 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Vestis by 15.3% during the 2nd quarter. Renaissance Technologies LLC now owns 453,658 shares of the company’s stock valued at $5,548,000 after acquiring an additional 60,058 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Vestis during the 2nd quarter valued at $2,431,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Vestis Price Performance

Shares of VSTS opened at $16.21 on Monday. The business’s 50-day moving average is $15.69 and its 200-day moving average is $14.46. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 101.30 and a beta of 1.17. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

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

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 13th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, December 13th. Vestis’s payout ratio is currently 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.