Quinn Opportunity Partners LLC Makes New $640,000 Investment in Vestis Co. (NYSE:VSTS)

Quinn Opportunity Partners LLC bought a new stake in Vestis Co. (NYSE:VSTS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 42,000 shares of the company’s stock, valued at approximately $640,000.

A number of other institutional investors have also recently made changes to their positions in VSTS. Pacer Advisors Inc. acquired a new position in Vestis in the 4th quarter valued at about $210,766,000. Birnam Oak Advisors LP acquired a new position in Vestis in the fourth quarter valued at approximately $21,446,000. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 382,071 shares during the period. Royce & Associates LP increased its stake in Vestis by 39.2% during the fourth quarter. Royce & Associates LP now owns 959,830 shares of the company’s stock worth $14,628,000 after acquiring an additional 270,441 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Vestis by 20.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company’s stock valued at $16,717,000 after purchasing an additional 188,661 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VSTS has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Barclays dropped their price target on shares of Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, April 4th. Finally, Robert W. Baird lowered their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, Vestis currently has a consensus rating of “Hold” and a consensus price target of $13.08.

Vestis Stock Down 0.4 %

Shares of NYSE VSTS opened at $7.86 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of 98.20 and a beta of 1.55. The business’s fifty day simple moving average is $11.12 and its 200-day simple moving average is $13.83. Vestis Co. has a 12-month low of $7.37 and a 12-month high of $19.39. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 posted $0.22 earnings per share. As a group, equities analysts predict that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.78%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio (DPR) is presently 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.