Vestis Co. (NYSE:VSTS) Stock Holdings Lifted by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its position in Vestis Co. (NYSE:VSTS) by 705.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,000 shares of the company’s stock after acquiring an additional 232,100 shares during the period. Polar Asset Management Partners Inc. owned about 0.20% of Vestis worth $3,948,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Vestis during the third quarter valued at approximately $27,000. Capital Performance Advisors LLP purchased a new position in Vestis during the third quarter valued at approximately $41,000. Canada Pension Plan Investment Board purchased a new position in Vestis during the second quarter valued at approximately $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vestis during the third quarter valued at approximately $51,000. Finally, GAMMA Investing LLC grew its position in Vestis by 143.5% during the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after purchasing an additional 2,334 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Price Performance

NYSE VSTS opened at $16.36 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $14.74 and a 200 day simple moving average of $13.56. The company has a market cap of $2.15 billion, a P/E ratio of 102.26 and a beta of 1.17. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The company had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. Vestis’s revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Vestis Co. will post 0.66 EPS for the current year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is presently 87.51%.

Analyst Ratings Changes

Several research firms have commented on VSTS. The Goldman Sachs Group boosted their target price on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Thursday, August 8th. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted 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. Finally, Barclays boosted their target price 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 investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Vestis currently has an average rating of “Hold” and a consensus price target of $16.91.

Vestis Company 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.