New York State Teachers Retirement System Makes New $1.70 Million Investment in Vestis Co. (NYSE:VSTS)

New York State Teachers Retirement System purchased a new position in Vestis Co. (NYSE:VSTS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 80,265 shares of the company’s stock, valued at approximately $1,697,000.

Several other institutional investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new position in Vestis in the fourth quarter worth approximately $25,000. CI Investments Inc. purchased a new stake in shares of Vestis in the third quarter worth $28,000. S.A. Mason LLC purchased a new stake in shares of Vestis in the fourth quarter worth $52,000. Rosenberg Matthew Hamilton purchased a new stake in shares of Vestis in the fourth quarter worth $55,000. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Vestis in the fourth quarter worth $217,000. 97.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vestis

In other Vestis news, CEO Kim Scott bought 15,000 shares of Vestis stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $19.14 per share, for a total transaction of $287,100.00. Following the acquisition, the chief executive officer now directly owns 183,131 shares in the company, valued at approximately $3,505,127.34. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Vestis Stock Up 0.3 %

Shares of NYSE VSTS opened at $18.70 on Wednesday. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73. The firm’s fifty day moving average is $18.91 and its two-hundred day moving average is $18.57. Vestis Co. has a 52-week low of $13.83 and a 52-week high of $22.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $717.90 million for the quarter, compared to the consensus estimate of $724.72 million. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that Vestis Co. will post 1.03 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective for the company. Barclays cut shares of Vestis from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, Wolfe Research assumed coverage on shares of Vestis in a research note on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.56.

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.