Vestis Co. (NYSE:VSTS) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Vestis Co. (NYSE:VSTS) by 20.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096,922 shares of the company’s stock after buying an additional 188,661 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.83% of Vestis worth $16,717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VSTS. US Bancorp DE grew its holdings in Vestis by 11.9% in the 3rd quarter. US Bancorp DE now owns 31,939 shares of the company’s stock valued at $476,000 after buying an additional 3,386 shares during the period. Sigma Planning Corp purchased a new stake in Vestis in the 3rd quarter valued at about $159,000. Victory Capital Management Inc. grew its holdings in Vestis by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 63,551 shares of the company’s stock valued at $947,000 after buying an additional 6,916 shares during the period. KBC Group NV grew its holdings in Vestis by 51.9% in the 3rd 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 during the period. Finally, Royce & Associates LP grew its holdings in Vestis by 10.7% in the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock valued at $10,272,000 after buying an additional 66,621 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Up 1.0 %

Shares of NYSE:VSTS opened at $10.94 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $19.76. The company has a 50 day moving average of $14.24 and a two-hundred day moving average of $14.72. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 136.82 and a beta of 1.40.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, analysts forecast that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, February 21st. Vestis’s payout ratio is currently 175.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on VSTS shares. JPMorgan Chase & Co. boosted their target price on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, 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 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.08.

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.