Vestis Co. (NYSE:VSTS) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its holdings in Vestis Co. (NYSE:VSTS) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,097 shares of the company’s stock after selling 24,092 shares during the quarter. Nordea Investment Management AB owned 0.12% of Vestis worth $2,326,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Vestis in the third quarter valued at $27,000. Nomura Asset Management Co. Ltd. boosted its holdings 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 purchasing an additional 1,020 shares during the period. Capital Performance Advisors LLP purchased a new position in Vestis in the third quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vestis in the third quarter valued at $51,000. Finally, Canada Pension Plan Investment Board purchased a new position in Vestis in the second quarter valued at $44,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Down 2.2 %

Shares of NYSE VSTS opened at $15.98 on Friday. The business has a 50-day moving average of $15.44 and a two-hundred day moving average of $14.29. 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 company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 99.88 and a beta of 1.17.

Vestis (NYSE:VSTS) last posted 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 for the quarter, compared to analyst estimates of $693.54 million. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, analysts forecast that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on VSTS shares. JPMorgan Chase & Co. lifted their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price target on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays lifted their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, Vestis presently has an average rating of “Hold” and an average price target of $14.08.

About Vestis

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.