Vestis Co. (NYSE:VSTS) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC increased its position in shares of Vestis Co. (NYSE:VSTS) by 689.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 160,671 shares of the company’s stock after acquiring an additional 140,324 shares during the quarter. Ieq Capital LLC owned approximately 0.12% of Vestis worth $2,449,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of VSTS. Brooklyn Investment Group acquired a new position in Vestis during the third quarter worth approximately $27,000. Spire Wealth Management purchased a new stake in Vestis during the fourth quarter valued at about $29,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,020 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Vestis in the 3rd quarter worth about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vestis in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Trading Down 3.0 %

VSTS opened at $13.05 on Monday. The firm’s 50 day moving average is $15.22 and its 200-day moving average is $14.84. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $20.07. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $1.72 billion, a P/E ratio of 163.08 and a beta of 1.16.

Vestis (NYSE:VSTS) last released its quarterly earnings results 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 posted $0.22 EPS. Analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, February 21st. Vestis’s dividend payout ratio (DPR) is 175.00%.

Analyst Ratings Changes

A number of research firms recently issued reports on VSTS. JPMorgan Chase & Co. increased their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group raised their target price on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays upped their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Vestis has an average rating of “Hold” and an average target price of $14.08.

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.