JPMorgan Chase & Co. Has $1.99 Million Stock Holdings in Vestis Co. (NYSE:VSTS)

JPMorgan Chase & Co. trimmed its position in Vestis Co. (NYSE:VSTS) by 39.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,579 shares of the company’s stock after selling 87,143 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of Vestis worth $1,990,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VSTS. AQR Capital Management LLC raised its holdings in Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after buying an additional 2,591,593 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Vestis by 111.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock worth $39,212,000 after acquiring an additional 1,384,413 shares in the last quarter. TOMS Capital Investment Management LP grew its stake in shares of Vestis by 22.7% during the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after acquiring an additional 430,555 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Vestis by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock worth $32,136,000 after acquiring an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock worth $18,854,000 after acquiring an additional 8,997 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Trading Down 0.1 %

Shares of Vestis stock opened at $16.31 on Thursday. The firm has a 50-day moving average of $15.77 and a 200-day moving average of $14.53. The stock has a market cap of $2.15 billion, a PE ratio of 101.91 and a beta of 1.17. 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 1.40, a quick ratio of 1.36 and a current ratio of 1.73.

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

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were given a dividend of $0.035 per share. The ex-dividend date was Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.86%. Vestis’s dividend payout ratio is 87.51%.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. 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 report on Friday, November 22nd. Finally, 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 report on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, Vestis currently has an average rating of “Hold” and an average price target of $14.08.

About Vestis

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.