Mutual of America Capital Management LLC Takes $484,000 Position in Vestis Co. (NYSE:VSTS)

Mutual of America Capital Management LLC bought a new position in shares of Vestis Co. (NYSE:VSTS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,880 shares of the company’s stock, valued at approximately $484,000.

Other hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of Vestis during the fourth quarter worth about $25,000. CI Investments Inc. acquired a new stake in shares of Vestis during the third quarter worth about $28,000. S.A. Mason LLC acquired a new stake in shares of Vestis during the fourth quarter worth about $52,000. Rosenberg Matthew Hamilton acquired a new stake in shares of Vestis during the fourth quarter worth about $55,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Vestis during the fourth quarter worth about $89,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VSTS. The Goldman Sachs Group began 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. Barclays cut shares of Vestis from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $17.00 to $19.00 in a report on Wednesday, February 28th. Finally, Wolfe Research initiated coverage on shares of Vestis in a report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Vestis presently has an average rating of “Moderate Buy” and an average price target of $22.56.

Vestis Stock Up 0.9 %

Shares of VSTS opened at $18.95 on Wednesday. The company’s 50 day simple moving average is $18.84 and its 200-day simple moving average is $18.65. Vestis Co. has a 12-month low of $13.83 and a 12-month high of $22.37. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $724.72 million. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.74%.

Insider Transactions at Vestis

In other news, CEO Kim Scott purchased 15,000 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.