Vestis Co. (NYSE:VSTS) Stock Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Vestis Co. (NYSE:VSTS) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 555,225 shares of the company’s stock after purchasing an additional 15,176 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of Vestis worth $8,462,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Rhumbline Advisers raised its holdings in shares of Vestis by 3.2% during the fourth quarter. Rhumbline Advisers now owns 289,052 shares of the company’s stock valued at $4,405,000 after acquiring an additional 9,076 shares during the period. Savant Capital LLC grew its position in Vestis by 16.1% during the 4th quarter. Savant Capital LLC now owns 74,292 shares of the company’s stock worth $1,132,000 after purchasing an additional 10,323 shares in the last quarter. Spire Wealth Management acquired a new stake in Vestis during the 4th quarter valued at $29,000. Pacer Advisors Inc. purchased a new stake in shares of Vestis in the fourth quarter valued at $210,766,000. Finally, Annex Advisory Services LLC boosted its position in shares of Vestis by 13.5% in the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock worth $4,479,000 after buying an additional 34,951 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VSTS has been the topic of several recent analyst reports. Barclays upped their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. The Goldman Sachs Group increased their price target on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target 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 investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, Vestis presently has an average rating of “Hold” and an average target price of $14.08.

Vestis Stock Performance

Shares of VSTS stock opened at $11.84 on Friday. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $19.76. The stock’s 50-day moving average is $14.85 and its two-hundred day moving average is $14.81. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The firm has a market cap of $1.56 billion, a P/E ratio of 148.02 and a beta of 1.16.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the company earned $0.22 EPS. Analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.18%. Vestis’s dividend payout ratio is currently 175.00%.

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.