Proficio Capital Partners LLC Makes New Investment in Vestis Co. (NYSE:VSTS)

Proficio Capital Partners LLC acquired a new stake in shares of Vestis Co. (NYSE:VSTS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,146 shares of the company’s stock, valued at approximately $185,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of Vestis by 223.0% in the 3rd quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after acquiring an additional 249,479 shares in the last quarter. LMR Partners LLP raised its stake in Vestis by 726.8% during the 3rd quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after purchasing an additional 141,113 shares during the period. Annex Advisory Services LLC lifted its holdings 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 valued at $4,479,000 after purchasing an additional 34,951 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock worth $2,449,000 after buying an additional 140,324 shares during the period. Finally, Royce & Associates LP grew its holdings in shares of Vestis by 10.7% during the third 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 in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VSTS shares. 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 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 equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.08.

Vestis Stock Performance

Shares of VSTS stock opened at $10.93 on Thursday. 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 $14.16 and its two-hundred day moving average is $14.69. 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 $1.44 billion, a P/E ratio of 136.67 and a beta of 1.40.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating 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 posted $0.22 earnings per share. Analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

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 is Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.28%. 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.