Nisa Investment Advisors LLC Buys New Position in Vestis Co. (NYSE:VSTS)

Nisa Investment Advisors LLC bought a new stake in Vestis Co. (NYSE:VSTS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,229 shares of the company’s stock, valued at approximately $132,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VSTS. Strs Ohio bought a new position in Vestis during the third quarter valued at approximately $359,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Vestis during the third quarter valued at approximately $1,318,000. Wolverine Asset Management LLC bought a new position in Vestis during the third quarter valued at approximately $2,412,000. CI Investments Inc. bought a new position in shares of Vestis in the third quarter worth approximately $28,000. Finally, Soros Fund Management LLC bought a new position in shares of Vestis in the third quarter worth approximately $14,714,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Trading Up 0.5 %

NYSE:VSTS opened at $18.66 on Friday. The firm’s fifty day simple moving average is $18.86 and its 200 day simple moving average is $18.59. Vestis Co. has a twelve month low of $13.83 and a twelve month high of $22.37. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $717.90 million for the quarter, compared to analyst estimates of $724.72 million. The company’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Vestis Co. will post 1.03 earnings per share for the current fiscal year.

Vestis Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Vestis

In other news, CEO Kim Scott acquired 15,000 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $19.14 per share, with a total value of $287,100.00. Following the completion of the transaction, the chief executive officer now owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

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.