25,400 Shares in Vestis Co. (NYSE:VSTS) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Vestis Co. (NYSE:VSTS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,400 shares of the company’s stock, valued at approximately $388,000.

Several other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after acquiring an additional 710 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Vestis by 104.1% in the 3rd 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. Swiss National Bank boosted its stake in Vestis by 0.7% during the 4th quarter. Swiss National Bank now owns 232,750 shares of the company’s stock valued at $3,547,000 after purchasing an additional 1,700 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Vestis by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock worth $681,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $29,000. 97.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VSTS has been the subject of a number of analyst reports. Barclays reduced their price target on Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday. Robert W. Baird dropped their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group decreased their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. One research 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 currently has a consensus rating of “Hold” and an average target price of $13.08.

Vestis Stock Performance

Vestis stock opened at $7.93 on Friday. Vestis Co. has a 1 year low of $7.89 and a 1 year high of $19.76. The company’s 50-day moving average is $12.10 and its two-hundred day moving average is $14.19. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.04 billion, a PE ratio of 99.15 and a beta of 1.40.

Vestis (NYSE:VSTS) last announced its quarterly earnings results 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 last year, the business posted $0.22 earnings per share. Equities analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio (DPR) 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.