GAMMA Investing LLC Increases Position in Vestis Co. (NYSE:VSTS)

GAMMA Investing LLC lifted its holdings in Vestis Co. (NYSE:VSTS) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,670 shares of the company’s stock after buying an additional 710 shares during the quarter. GAMMA Investing LLC’s holdings in Vestis were worth $71,000 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. Brooklyn Investment Group purchased a new stake in Vestis in the third quarter worth $27,000. Nomura Asset Management Co. Ltd. increased its stake in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,020 shares during the period. Capital Performance Advisors LLP bought a new stake in Vestis during the 3rd quarter valued at about $41,000. Canada Pension Plan Investment Board purchased a new stake in Vestis in the 2nd quarter valued at about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Vestis in the 3rd quarter worth about $51,000. 97.40% of the stock is owned by institutional investors.

Vestis Trading Down 2.2 %

VSTS opened at $15.98 on Friday. 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 firm has a market cap of $2.10 billion, a price-to-earnings ratio of 99.88 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 stock has a fifty day moving average price of $15.44 and a 200-day moving average price of $14.29.

Vestis (NYSE:VSTS) last announced its 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). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.88%. Vestis’s payout ratio is 87.50%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays raised 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. The Goldman Sachs Group raised their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective 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. One 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 stock currently has a consensus rating of “Hold” and a consensus target price of $14.08.

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.