15,326 Shares in Vestis Co. (NYSE:VSTS) Acquired by Merit Financial Group LLC

Merit Financial Group LLC bought a new position in Vestis Co. (NYSE:VSTS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,326 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VSTS. GAMMA Investing LLC raised its holdings in shares of Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after purchasing an additional 710 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,020 shares in the last quarter. KBC Group NV increased its holdings in shares of Vestis by 51.9% in the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after buying an additional 1,619 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Vestis by 3.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock valued at $681,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Vestis during the 3rd quarter worth $27,000. 97.40% of the stock is owned by institutional investors.

Vestis Stock Down 0.9 %

Shares of Vestis stock opened at $16.09 on Monday. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37. The company has a market cap of $2.12 billion, a P/E ratio of 100.58 and a beta of 1.17. 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 stock has a 50-day moving average price of $15.90 and a 200 day moving average price of $14.62.

Vestis (NYSE:VSTS) last posted its quarterly 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 company had revenue of $684.28 million during the quarter, compared to analysts’ expectations of $693.54 million. Vestis had a return on equity of 9.07% and a net margin of 0.75%. Vestis’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts expect that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 13th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, December 13th. Vestis’s dividend payout ratio is currently 87.51%.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays boosted their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised 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 given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.