Boothbay Fund Management LLC Has $3.93 Million Stock Holdings in Vestis Co. (NYSE:VSTS)

Boothbay Fund Management LLC trimmed its position in Vestis Co. (NYSE:VSTS) by 9.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 257,790 shares of the company’s stock after selling 26,455 shares during the period. Boothbay Fund Management LLC’s holdings in Vestis were worth $3,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC grew its position in shares of Vestis by 13.5% during the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock worth $4,479,000 after buying an additional 34,951 shares during the period. Raymond James Financial Inc. acquired a new stake in Vestis during the 4th quarter worth $2,194,000. Proficio Capital Partners LLC acquired a new stake in Vestis during the 4th quarter worth $185,000. Ieq Capital LLC raised its position in shares of Vestis by 689.7% during the 4th quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock valued at $2,449,000 after acquiring an additional 140,324 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Vestis by 17.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company’s stock valued at $38,693,000 after purchasing an additional 382,071 shares during the period. 97.40% of the stock is owned by institutional investors.

Vestis Price Performance

NYSE VSTS opened at $8.76 on Friday. 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 market cap of $1.15 billion, a price-to-earnings ratio of 109.51 and a beta of 1.55. The business has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $13.35. Vestis Co. has a 52-week low of $7.35 and a 52-week high of $18.99.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were issued a $0.035 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.60%. Vestis’s dividend payout ratio (DPR) is 175.00%.

Wall Street Analyst Weigh In

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

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.