Riverwater Partners LLC Increases Position in Vestis Co. (NYSE:VSTS)

Riverwater Partners LLC increased its position in Vestis Co. (NYSE:VSTS) by 47.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,819 shares of the company’s stock after acquiring an additional 40,216 shares during the period. Vestis makes up about 0.9% of Riverwater Partners LLC’s portfolio, making the stock its 29th biggest holding. Riverwater Partners LLC owned about 0.09% of Vestis worth $1,902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in shares of Vestis in the fourth quarter worth about $29,000. Nomura Asset Management Co. Ltd. increased its holdings in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,020 shares during the period. Smartleaf Asset Management LLC raised its position in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after buying an additional 2,123 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vestis in the 3rd quarter valued at $51,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Vestis by 17.9% in the 4th 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 last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on VSTS. The Goldman Sachs Group lowered their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Barclays dropped their target price on Vestis from $13.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Robert W. Baird lowered their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.08.

Vestis Trading Down 12.3 %

Shares of VSTS 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 has a market cap of $1.04 billion, a price-to-earnings ratio of 99.15 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The stock has a 50 day simple moving average of $12.10 and a 200-day simple moving average of $14.19.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.22 earnings per share. On average, equities research analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were paid a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.77%. 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.