Vestis Co. (NYSE:VSTS) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Vestis Co. (NYSE:VSTS) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,156,811 shares of the company’s stock after purchasing an additional 192,525 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.64% of Vestis worth $32,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Vestis during the 3rd quarter worth approximately $41,000. Canada Pension Plan Investment Board acquired a new position in Vestis during the 2nd quarter worth approximately $44,000. GAMMA Investing LLC lifted its position in Vestis by 143.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after acquiring an additional 2,334 shares in the last quarter. Copeland Capital Management LLC acquired a new position in Vestis during the 3rd quarter worth approximately $60,000. Finally, nVerses Capital LLC acquired a new position in Vestis during the 2nd quarter worth approximately $61,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Price Performance

Shares of VSTS opened at $16.40 on Wednesday. The company has a market cap of $2.16 billion, a P/E ratio of 102.48 and a beta of 1.17. The stock has a fifty day moving average price of $14.72 and a 200 day moving average price of $13.54. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37.

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

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.85%. Vestis’s dividend payout ratio (DPR) is presently 87.51%.

Analyst Ratings Changes

Several equities analysts recently commented on VSTS shares. Barclays boosted their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, November 22nd. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.