Vestis Co. (NYSE:VSTS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Vestis Co. (NYSE:VSTS) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 303,199 shares of the company’s stock after selling 18,867 shares during the quarter. Rhumbline Advisers owned 0.23% of Vestis worth $3,708,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. bought a new stake in Vestis in the fourth quarter valued at about $302,586,000. Capital International Investors bought a new position in shares of Vestis during the fourth quarter valued at approximately $125,586,000. Wellington Management Group LLP bought a new position in shares of Vestis during the fourth quarter valued at approximately $56,431,000. Norges Bank bought a new position in shares of Vestis during the fourth quarter valued at approximately $31,033,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Vestis during the fourth quarter valued at approximately $30,157,000. 97.40% of the stock is owned by institutional investors.

Vestis Stock Performance

Shares of NYSE VSTS opened at $14.99 on Tuesday. The company has a market cap of $1.97 billion and a PE ratio of 18.74. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The stock has a 50 day simple moving average of $13.25 and a 200-day simple moving average of $14.46.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The company had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Vestis Co. will post 0.64 EPS for the current year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, September 13th. Vestis’s dividend payout ratio (DPR) is currently 17.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, August 8th. William Blair assumed coverage on Vestis in a report on Friday, May 31st. They set a “market perform” rating for the company. The Goldman Sachs Group upped their target price on Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.69.

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.