Vestis Co. (NYSE:VSTS) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Vestis Co. (NYSE:VSTS) by 26.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,837 shares of the company’s stock after selling 4,936 shares during the period. Truist Financial Corp’s holdings in Vestis were worth $211,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VSTS. Brooklyn Investment Group purchased a new stake in shares of Vestis during the third quarter valued at $27,000. Spire Wealth Management purchased a new stake in shares of Vestis during the fourth quarter valued at $29,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Vestis by 104.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,020 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Vestis during the third quarter valued at $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vestis during the third quarter valued at $51,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. The Goldman Sachs Group upped 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. Finally, JPMorgan Chase & Co. upped their target price on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, Vestis has an average rating of “Hold” and a consensus price target of $14.08.

Vestis Stock Performance

Shares of NYSE VSTS opened at $11.38 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 142.31 and a beta of 1.16. The business’s 50-day simple moving average is $14.50 and its 200-day simple moving average is $14.75. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $19.76.

Vestis (NYSE:VSTS) last released its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 last year, the company posted $0.22 EPS. As a group, equities research analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, February 21st. Vestis’s dividend payout ratio (DPR) is currently 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.