Wilmington Savings Fund Society FSB Makes New Investment in Vestis Co. (NYSE:VSTS)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Vestis Co. (NYSE:VSTS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,977 shares of the company’s stock, valued at approximately $238,000.

Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after acquiring an additional 2,591,593 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after purchasing an additional 1,384,413 shares during the period. TOMS Capital Investment Management LP grew its holdings in shares of Vestis by 22.7% in the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after purchasing an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Vestis by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock worth $32,136,000 after purchasing an additional 192,525 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock valued at $18,854,000 after buying an additional 8,997 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Price Performance

VSTS stock opened at $16.11 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37. The firm has a 50-day moving average of $15.01 and a 200 day moving average of $13.84. The company has a market cap of $2.12 billion, a P/E ratio of 100.69 and a beta of 1.17.

Vestis (NYSE:VSTS) last announced its earnings results on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. Vestis had a return on equity of 9.07% and a net margin of 0.75%. Vestis’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Vestis Co. will post 0.66 EPS for the current year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is presently 87.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VSTS shares. Barclays raised their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Vestis from $15.00 to $16.00 and gave the stock 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 report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.73.

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.