Vestis Co. (NYSE:VSTS) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in Vestis Co. (NYSE:VSTS) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,538,882 shares of the company’s stock after acquiring an additional 382,071 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.93% of Vestis worth $38,693,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. acquired a new stake in shares of Vestis in the 4th quarter valued at about $210,766,000. Jacobs Levy Equity Management Inc. raised its stake in Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after buying an additional 1,384,413 shares in the last quarter. TOMS Capital Investment Management LP lifted its holdings in Vestis by 22.7% during the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after buying an additional 430,555 shares during the last quarter. Forest Avenue Capital Management LP acquired a new position in shares of Vestis in the 3rd quarter worth approximately $19,486,000. Finally, Bank of New York Mellon Corp grew its position in shares of Vestis by 20.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company’s stock worth $16,717,000 after acquiring an additional 188,661 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

VSTS has been the topic of several research analyst reports. Barclays raised 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. JPMorgan Chase & Co. increased their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their target price on shares of 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 issued a hold rating to the company. Based on data from MarketBeat.com, Vestis currently has a consensus rating of “Hold” and a consensus target price of $14.08.

Vestis Stock Up 1.5 %

VSTS stock opened at $10.81 on Friday. 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 fifty-two week low of $8.92 and a fifty-two week high of $19.76. The firm’s 50-day simple moving average is $13.97 and its 200 day simple moving average is $14.65. The stock has a market cap of $1.42 billion, a PE ratio of 135.08 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 net margin of 0.34% and a return on equity of 7.91%. During the same period last year, the company earned $0.22 EPS. As a group, sell-side analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, February 21st. Vestis’s dividend payout ratio is currently 175.00%.

About Vestis

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.