Oak Thistle LLC Cuts Position in Vestis Co. (NYSE:VSTS)

Oak Thistle LLC lessened its position in Vestis Co. (NYSE:VSTS) by 35.6% during the fourth quarter, Holdings Channel reports. The fund owned 53,685 shares of the company’s stock after selling 29,700 shares during the period. Oak Thistle LLC’s holdings in Vestis were worth $818,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC increased 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 during the last quarter. LMR Partners LLP grew its position in 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. Royce & Associates LP raised its stake in shares of Vestis by 10.7% during the third quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after acquiring an additional 66,621 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Vestis in the 2nd quarter worth approximately $1,627,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Vestis by 15.3% in the 2nd quarter. Renaissance Technologies LLC now owns 453,658 shares of the company’s stock valued at $5,548,000 after purchasing an additional 60,058 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

Shares of NYSE:VSTS opened at $16.28 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 101.76 and a beta of 1.17. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a 50-day moving average price of $15.60 and a 200-day moving average price of $14.37.

Vestis (NYSE:VSTS) last released its quarterly 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 for the quarter, compared to the consensus estimate of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Vestis Co. will post 0.66 EPS for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were issued 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 dividend payout ratio (DPR) is currently 87.50%.

Analyst Ratings Changes

A number of brokerages recently commented on VSTS. The Goldman Sachs Group lifted their target price on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays lifted 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. Finally, JPMorgan Chase & Co. increased their target price 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 and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.