Private Management Group Inc. Sells 4,534 Shares of Vestis Co. (NYSE:VSTS)

Private Management Group Inc. cut its stake in Vestis Co. (NYSE:VSTS) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 685,828 shares of the company’s stock after selling 4,534 shares during the quarter. Private Management Group Inc. owned 0.52% of Vestis worth $10,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in VSTS. Brooklyn Investment Group bought a new stake in Vestis in the 3rd quarter worth approximately $27,000. Spire Wealth Management purchased a new position in shares of Vestis in the 4th quarter worth $29,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of 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 acquiring an additional 1,020 shares during the period. Capital Performance Advisors LLP purchased a new stake in Vestis during the third quarter valued at $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Vestis in the third quarter valued at about $51,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VSTS shares. Barclays boosted their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, November 22nd. The Goldman Sachs Group boosted their target price on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.08.

Vestis Price Performance

Shares of VSTS opened at $13.57 on Thursday. The company has a 50 day moving average of $15.91 and a two-hundred day moving average of $14.75. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 169.63 and a beta of 1.17. 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 twelve month low of $8.92 and a twelve month high of $22.32.

Vestis (NYSE:VSTS) last announced its quarterly earnings data 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 posted $0.22 earnings per share. As a group, analysts predict that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, February 21st. Vestis’s payout ratio is 175.02%.

Vestis 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.