State of New Jersey Common Pension Fund D Makes New Investment in Vestis Co. (NYSE:VSTS)

State of New Jersey Common Pension Fund D acquired a new position in Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 149,493 shares of the company's stock, valued at approximately $3,160,000. State of New Jersey Common Pension Fund D owned approximately 0.11% of Vestis as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of Vestis during the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust purchased a new stake in shares of Vestis during the fourth quarter valued at about $25,000. CI Investments Inc. acquired a new stake in Vestis in the third quarter valued at approximately $28,000. Daiwa Securities Group Inc. acquired a new stake in shares of Vestis in the 4th quarter worth $34,000. Finally, S.A. Mason LLC acquired a new stake in Vestis in the fourth quarter worth about $52,000. Institutional investors own 97.40% of the company's stock.

Vestis Stock Up 0.5 %

VSTS stock traded up $0.09 during midday trading on Friday, hitting $18.90. The company's stock had a trading volume of 821,685 shares, compared to its average volume of 1,278,894. Vestis Co. has a 52-week low of $13.83 and a 52-week high of $22.37. The firm has a 50-day simple moving average of $18.82 and a 200-day simple moving average of $18.72. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61.

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

Vestis Dividend Announcement

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

Insider Buying and Selling at Vestis

In other news, CEO Kim Scott bought 15,000 shares of Vestis stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the purchase, the chief executive officer now owns 183,131 shares of the company's stock, valued at $3,505,127.34. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

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

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.