Nebula Research & Development LLC Sells 92,190 Shares of Vestis Co. (NYSE:VSTS)

Nebula Research & Development LLC decreased its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 68.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,679 shares of the company's stock after selling 92,190 shares during the quarter. Nebula Research & Development LLC's holdings in Vestis were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VSTS. Annex Advisory Services LLC grew its stake in Vestis by 13.5% in the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock worth $4,479,000 after purchasing an additional 34,951 shares in the last quarter. Raymond James Financial Inc. bought a new position in Vestis in the fourth quarter worth approximately $2,194,000. Proficio Capital Partners LLC bought a new position in Vestis in the fourth quarter worth approximately $185,000. Ieq Capital LLC grew its stake in Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company's stock worth $2,449,000 after purchasing an additional 140,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Vestis by 17.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock worth $38,693,000 after purchasing an additional 382,071 shares in the last quarter. Institutional investors own 97.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VSTS. 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 research note on Thursday, March 20th. The Goldman Sachs Group lowered their target price on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, Barclays lowered their target price on Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.08.

Vestis Stock Up 0.2 %

Vestis stock opened at $8.82 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The firm has a market cap of $1.16 billion, a P/E ratio of 110.26 and a beta of 1.55. Vestis Co. has a twelve month low of $7.35 and a twelve month high of $18.99. The business has a fifty day moving average of $9.89 and a two-hundred day moving average of $13.30.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results 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 return on equity of 7.91% and a net margin of 0.34%. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, analysts forecast that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were paid a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.59%. Vestis's payout ratio is 175.00%.

Vestis 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.

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