Quantbot Technologies LP Takes $93,000 Position in Vestis Co. (NYSE:VSTS)

Quantbot Technologies LP bought a new position in shares of Vestis Co. (NYSE:VSTS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,124 shares of the company’s stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VSTS. Spire Wealth Management acquired a new stake in shares of Vestis in the fourth quarter valued at about $29,000. Nomura Asset Management Co. Ltd. grew its position in Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,020 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vestis during the third quarter worth $51,000. Finally, GAMMA Investing LLC boosted its stake in shares of Vestis by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after purchasing an additional 710 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Down 1.6 %

NYSE VSTS opened at $9.91 on Tuesday. The company has a market capitalization of $1.30 billion, a P/E ratio of 123.83 and a beta of 1.40. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $19.76. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The company’s 50 day simple moving average is $12.67 and its 200 day simple moving average is $14.34.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the firm earned $0.22 earnings per share. Equities research analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s payout ratio is presently 175.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on VSTS shares. The Goldman Sachs Group dropped their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Robert W. Baird dropped their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.68.

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.