Vestis Co. (NYSE:VSTS) Shares Purchased by Quarry LP

Quarry LP lifted its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 98.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,892 shares of the company's stock after buying an additional 128,004 shares during the period. Vestis makes up 0.6% of Quarry LP's holdings, making the stock its 11th biggest position. Quarry LP owned 0.20% of Vestis worth $3,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in shares of Vestis during the 4th quarter worth $210,766,000. First Trust Advisors LP acquired a new stake in Vestis during the fourth quarter worth about $22,936,000. Birnam Oak Advisors LP purchased a new position in Vestis during the fourth quarter worth about $21,446,000. Dimensional Fund Advisors LP boosted its holdings in Vestis by 46.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock valued at $47,172,000 after purchasing an additional 980,303 shares during the last quarter. Finally, Topline Capital Management LLC purchased a new stake in shares of Vestis in the 4th quarter valued at approximately $6,880,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Trading Down 0.9 %

Shares of VSTS traded down $0.08 during midday trading on Thursday, hitting $8.68. 1,023,360 shares of the stock were exchanged, compared to its average volume of 2,315,648. Vestis Co. has a 52-week low of $7.35 and a 52-week high of $18.95. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock has a fifty day simple moving average of $9.71 and a 200 day simple moving average of $13.24. The firm has a market cap of $1.14 billion, a P/E ratio of 108.51 and a beta of 1.55.

Vestis (NYSE:VSTS - Get Free Report) last announced its 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 quarter in the previous year, the business posted $0.22 earnings per share. On average, research analysts anticipate that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 21st. Vestis's dividend payout ratio (DPR) is currently 175.00%.

Analyst Ratings Changes

Several research firms have recently commented on VSTS. The Goldman Sachs Group reduced their price target on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Robert W. Baird reduced their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Finally, Barclays decreased their price target on Vestis from $13.00 to $10.00 and set an "underweight" rating on the stock in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.08.

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.