Vestis Co. (NYSE:VSTS) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of Vestis Co. (NYSE:VSTS) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,771 shares of the company’s stock after selling 900 shares during the quarter. New York State Teachers Retirement System’s holdings in Vestis were worth $972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in Vestis during the 3rd quarter valued at about $27,000. Spire Wealth Management purchased a new position in Vestis during the 4th quarter valued at about $29,000. Nomura Asset Management Co. Ltd. boosted its holdings in Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,020 shares during the period. Capital Performance Advisors LLP purchased a new position in Vestis during the 3rd quarter valued at about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Vestis during the 3rd quarter valued at about $51,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Trading Down 3.0 %

NYSE:VSTS opened at $13.05 on Monday. The stock has a fifty day moving average price of $15.22 and a two-hundred day moving average price of $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 debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $20.07.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VSTS shares. Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective 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 lifted their price objective on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Vestis has an average rating of “Hold” and a consensus target price 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.