Sanctuary Advisors LLC Boosts Stock Position in Vestis Co. (NYSE:VSTS)

Sanctuary Advisors LLC boosted its holdings in Vestis Co. (NYSE:VSTS) by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,609 shares of the company’s stock after buying an additional 3,686 shares during the period. Sanctuary Advisors LLC’s holdings in Vestis were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in Vestis by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 555,225 shares of the company’s stock worth $8,462,000 after buying an additional 15,176 shares during the last quarter. Rhumbline Advisers boosted its stake in Vestis by 3.2% in the 4th quarter. Rhumbline Advisers now owns 289,052 shares of the company’s stock worth $4,405,000 after buying an additional 9,076 shares during the last quarter. Savant Capital LLC boosted its stake in Vestis by 16.1% in the 4th quarter. Savant Capital LLC now owns 74,292 shares of the company’s stock worth $1,132,000 after buying an additional 10,323 shares during the last quarter. Spire Wealth Management acquired a new stake in Vestis in the 4th quarter worth about $29,000. Finally, Pacer Advisors Inc. acquired a new stake in Vestis in the 4th quarter worth about $210,766,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VSTS shares. 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. 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, 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. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Vestis presently has a consensus rating of “Hold” and a consensus price target of $14.08.

Vestis Stock Performance

NYSE VSTS opened at $11.62 on Tuesday. The business’s 50-day simple moving average is $14.77 and its 200-day simple moving average is $14.81. The firm has a market capitalization of $1.53 billion, a P/E ratio of 145.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $19.76.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 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 quarter last year, the firm posted $0.22 EPS. Equities analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, February 21st. Vestis’s dividend payout ratio (DPR) is presently 175.00%.

Vestis 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.