Wedge Capital Management L L P NC Has $1.27 Million Stake in Vestis Co. (NYSE:VSTS)

Wedge Capital Management L L P NC decreased its position in Vestis Co. (NYSE:VSTS) by 17.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 84,966 shares of the company’s stock after selling 17,527 shares during the period. Wedge Capital Management L L P NC owned about 0.06% of Vestis worth $1,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC boosted its stake in Vestis by 1.2% in the 3rd quarter. Annex Advisory Services LLC now owns 258,948 shares of the company’s stock worth $3,858,000 after purchasing an additional 3,036 shares during the period. Wedmont Private Capital boosted its stake in Vestis by 58.1% in the 3rd quarter. Wedmont Private Capital now owns 16,037 shares of the company’s stock worth $235,000 after purchasing an additional 5,892 shares during the period. CWM LLC boosted its stake in Vestis by 253.7% in the 3rd quarter. CWM LLC now owns 46,834 shares of the company’s stock worth $698,000 after purchasing an additional 33,594 shares during the period. Samson Rock Capital LLP acquired a new position in Vestis in the 3rd quarter worth approximately $2,235,000. Finally, GAMMA Investing LLC boosted its stake in Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after purchasing an additional 2,334 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. The Goldman Sachs Group increased their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.69.

Vestis Stock Performance

Vestis stock opened at $15.11 on Thursday. The firm’s fifty day simple moving average is $14.38 and its 200-day simple moving average is $13.96. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $698.20 million for the quarter, compared to the consensus estimate of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Vestis Co. will post 0.64 EPS for the current fiscal year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were issued a $0.035 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.14 annualized dividend and a yield of 0.93%.

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.