Barclays PLC Buys 42,450 Shares of Vestis Co. (NYSE:VSTS)

Barclays PLC raised its stake in Vestis Co. (NYSE:VSTS) by 445.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,981 shares of the company’s stock after acquiring an additional 42,450 shares during the period. Barclays PLC’s holdings in Vestis were worth $774,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VSTS. M&T Bank Corp acquired a new position in Vestis in the third quarter worth $169,000. Public Employees Retirement System of Ohio boosted its stake in Vestis by 105.2% in the third quarter. Public Employees Retirement System of Ohio now owns 122,255 shares of the company’s stock worth $1,822,000 after purchasing an additional 62,675 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,020 shares in the last quarter. Weiss Asset Management LP acquired a new position in Vestis in the third quarter worth $1,232,000. Finally, Quantinno Capital Management LP acquired a new position in Vestis in the third quarter worth $164,000. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of recent analyst reports. Barclays boosted 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. upped their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group upped their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.08.

Vestis Trading Up 0.8 %

Shares of VSTS opened at $16.28 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The firm has a market capitalization of $2.14 billion, a PE ratio of 101.76 and a beta of 1.17. The stock’s fifty day simple moving average is $15.60 and its 200-day simple moving average is $14.37.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, research analysts predict that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were issued a $0.035 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%. Vestis’s dividend payout ratio is presently 87.50%.

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.