Public Employees Retirement System of Ohio Increases Position in Vestis Co. (NYSE:VSTS)

Public Employees Retirement System of Ohio lifted its holdings in Vestis Co. (NYSE:VSTS) by 105.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,255 shares of the company’s stock after buying an additional 62,675 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Vestis were worth $1,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of VSTS. AQR Capital Management LLC grew its stake in Vestis by 223.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after acquiring an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Vestis by 111.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock worth $39,212,000 after purchasing an additional 1,384,413 shares in the last quarter. Forest Avenue Capital Management LP purchased a new position in Vestis during the 3rd quarter worth $19,486,000. Granite Investment Partners LLC bought a new stake in Vestis during the 2nd quarter valued at $13,752,000. Finally, TOMS Capital Investment Management LP lifted its holdings in shares of Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after buying an additional 430,555 shares during the period. 97.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Vestis from $13.60 to $15.00 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, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.73.

Vestis Stock Down 2.4 %

NYSE:VSTS opened at $15.72 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 stock has a market capitalization of $2.07 billion, a P/E ratio of 98.26 and a beta of 1.17. The company’s 50-day simple moving average is $15.02 and its 200-day simple moving average is $13.85. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

Vestis (NYSE:VSTS) last announced its earnings results on Thursday, November 21st. The company reported $0.11 earnings per share 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 firm had revenue of $684.28 million during the quarter, compared to analyst estimates of $693.54 million. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is presently 87.50%.

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.