Vestis Co. (NYSE:VSTS) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of Vestis Co. (NYSE:VSTS) by 98.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,642 shares of the company’s stock after buying an additional 80,528 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of Vestis worth $1,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. acquired a new position in Vestis during the fourth quarter worth $302,586,000. Capital International Investors purchased a new position in Vestis in the 4th quarter valued at about $125,586,000. Wellington Management Group LLP acquired a new stake in Vestis in the 4th quarter worth about $56,431,000. Norges Bank purchased a new stake in Vestis during the 4th quarter worth approximately $31,033,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Vestis during the fourth quarter valued at approximately $30,157,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

VSTS stock opened at $15.71 on Friday. Vestis Co. has a one year low of $8.92 and a one year high of $22.37. The firm’s 50 day moving average price is $13.51 and its 200-day moving average price is $14.42. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67.

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

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th 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 0.89%. The ex-dividend date of this dividend is Friday, September 13th.

Analyst Ratings Changes

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

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.