Sei Investments Co. Has $1.58 Million Position in Vestis Co. (NYSE:VSTS)

Sei Investments Co. grew its holdings in shares of Vestis Co. (NYSE:VSTS) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,748 shares of the company’s stock after buying an additional 13,120 shares during the quarter. Sei Investments Co. owned approximately 0.10% of Vestis worth $1,575,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VSTS. Vanguard Group Inc. bought a new position in shares of Vestis in the fourth quarter valued at $302,586,000. Wellington Management Group LLP acquired a new stake in Vestis in the fourth quarter valued at $56,431,000. Nomura Holdings Inc. bought a new position in shares of Vestis in the 4th quarter valued at about $29,995,000. Vision One Management Partners LP acquired a new position in shares of Vestis during the 4th quarter worth about $26,622,000. Finally, Madison Avenue Partners LP raised its holdings in shares of Vestis by 1,124.5% in the 4th quarter. Madison Avenue Partners LP now owns 1,346,980 shares of the company’s stock valued at $28,475,000 after purchasing an additional 1,236,980 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on VSTS. The Goldman Sachs Group boosted their price target on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research note on Thursday, August 8th. Finally, Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Vestis currently has an average rating of “Hold” and an average target price of $16.69.

Vestis Price Performance

VSTS stock opened at $14.80 on Friday. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. The company’s 50-day simple moving average is $14.03 and its 200 day simple moving average is $14.16.

Vestis (NYSE:VSTS) last announced its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $698.20 million for the quarter, compared to analyst estimates of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The company’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that Vestis Co. will post 0.64 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, September 13th.

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.