Quantinno Capital Management LP Makes New Investment in Vestis Co. (NYSE:VSTS)

Quantinno Capital Management LP bought a new stake in Vestis Co. (NYSE:VSTS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,033 shares of the company’s stock, valued at approximately $164,000.

A number of other institutional investors have also recently made changes to their positions in VSTS. AQR Capital Management LLC lifted its holdings in Vestis by 223.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after purchasing an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock worth $39,212,000 after acquiring an additional 1,384,413 shares during the last quarter. TOMS Capital Investment Management LP grew its stake in Vestis by 22.7% during the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock valued at $34,719,000 after acquiring an additional 430,555 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Vestis by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock valued at $32,136,000 after acquiring an additional 192,525 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Vestis by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock worth $18,854,000 after purchasing an additional 8,997 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Up 1.9 %

Shares of NYSE:VSTS opened at $16.35 on Tuesday. The firm’s 50-day moving average is $14.94 and its two-hundred day moving average is $13.78. 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 Co. has a 1 year low of $8.92 and a 1 year high of $22.37. The firm has a market capitalization of $2.15 billion, a PE ratio of 102.19 and a beta of 1.17.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million for the quarter, compared to analysts’ expectations of $693.54 million. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Analysts predict that Vestis Co. will post 0.66 EPS for the current year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%. Vestis’s payout ratio is currently 87.50%.

Wall Street Analysts Forecast Growth

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

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.