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

Ieq Capital LLC increased its position in Vestis Co. (NYSE:VSTS) by 689.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,671 shares of the company’s stock after acquiring an additional 140,324 shares during the period. Ieq Capital LLC’s holdings in Vestis were worth $2,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VSTS. Brooklyn Investment Group bought a new position in shares of Vestis in the third quarter worth $27,000. Spire Wealth Management acquired a new position in Vestis during the 4th quarter valued at about $29,000. Nomura Asset Management Co. Ltd. lifted its stake 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 acquiring an additional 1,020 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Vestis in the third quarter valued at approximately $41,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vestis during the third quarter valued at approximately $51,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Performance

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

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping 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 period in the previous year, the company posted $0.22 EPS. As a group, sell-side analysts forecast that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays upped their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price target 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. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus 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.