Mirae Asset Global Investments Co. Ltd. Invests $581,000 in Vestis Co. (NYSE:VSTS)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Vestis Co. (NYSE:VSTS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 27,468 shares of the company’s stock, valued at approximately $581,000.

A number of other hedge funds also recently modified their holdings of VSTS. Sound Income Strategies LLC acquired a new stake in shares of Vestis during the 4th quarter worth about $25,000. CI Investments Inc. acquired a new stake in Vestis in the 3rd quarter worth about $28,000. S.A. Mason LLC acquired a new stake in Vestis in the 4th quarter worth about $52,000. Rosenberg Matthew Hamilton acquired a new stake in Vestis in the 4th quarter worth about $55,000. Finally, Sanders Morris Harris LLC acquired a new stake in Vestis in the 4th quarter worth about $217,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on VSTS shares. The Goldman Sachs Group started 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 boosted their target price for the company from $17.00 to $19.00 in a research report on Wednesday, February 28th. Finally, Wolfe Research initiated coverage on shares of Vestis in a research report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Vestis currently has an average rating of “Moderate Buy” and an average target price of $22.56.

Insider Transactions at Vestis

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

Vestis Stock Up 0.7 %

Shares of NYSE VSTS opened at $18.83 on Friday. Vestis Co. has a one year low of $13.83 and a one year 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. The firm’s 50 day simple moving average is $18.82 and its two-hundred day simple moving average is $18.65.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 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 analyst estimates of $724.72 million. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vestis Co. will post 1.03 EPS for the current year.

Vestis Dividend Announcement

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

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.