Wedge Capital Management L L P NC Makes New Investment in Vestis Co. (NYSE:VSTS)

Wedge Capital Management L L P NC purchased a new stake in Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 126,536 shares of the company's stock, valued at approximately $2,675,000. Wedge Capital Management L L P NC owned approximately 0.10% of Vestis at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in Vestis in the fourth quarter valued at $25,000. CI Investments Inc. bought a new stake in Vestis in the third quarter valued at $28,000. Daiwa Securities Group Inc. bought a new stake in Vestis in the fourth quarter valued at $34,000. S.A. Mason LLC bought a new stake in shares of Vestis during the fourth quarter worth $52,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Vestis during the fourth quarter worth $55,000. 97.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vestis

In related news, CEO Kim Scott bought 15,000 shares of the business's stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $19.14 per share, with a total value of $287,100.00. Following the completion of the purchase, the chief executive officer now owns 183,131 shares of the company's stock, valued at approximately $3,505,127.34. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Vestis Stock Up 0.7 %

Shares of VSTS traded up $0.13 during trading hours on Thursday, hitting $18.83. 599,418 shares of the stock traded hands, compared to its average volume of 1,594,961. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73. Vestis Co. has a 1-year low of $13.83 and a 1-year high of $22.37. The business has a fifty day moving average of $18.82 and a 200-day moving average of $18.65.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $717.90 million during the quarter, compared to analyst estimates of $724.72 million. The company's revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, March 14th.

Analyst Ratings Changes

VSTS has been the topic of several research analyst reports. Barclays cut Vestis from an "equal weight" rating to an "underweight" rating and increased their target price for the stock from $17.00 to $19.00 in a report on Wednesday, February 28th. Wolfe Research initiated coverage on Vestis in a report on Thursday, January 11th. They set an "outperform" rating and a $24.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on Vestis in a report on Thursday, January 25th. They set a "neutral" rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.56.

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.