1,627 Shares in Vestis Co. (NYSE:VSTS) Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. purchased a new position in Vestis Co. (NYSE:VSTS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,627 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in Vestis during the fourth quarter valued at $25,000. CI Investments Inc. bought a new stake in Vestis during the third quarter valued at $28,000. S.A. Mason LLC bought a new stake in Vestis during the fourth quarter valued at $52,000. Rosenberg Matthew Hamilton bought a new stake in Vestis during the fourth quarter valued at $55,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Vestis during the fourth quarter valued at $89,000. Institutional investors own 97.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on VSTS shares. Barclays lowered 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 note on Wednesday, February 28th. Wolfe Research assumed coverage on shares of Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Vestis in a research report on Thursday, January 25th. They set a “neutral” rating and a $22.00 price target for the company. 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 data from MarketBeat, Vestis presently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Insider Activity at Vestis

In other Vestis news, CEO Kim Scott purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $19.14 per share, with a total value of $287,100.00. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.

Vestis Price Performance

Shares of NYSE VSTS opened at $18.90 on Monday. The business has a fifty day moving average of $18.82 and a two-hundred day moving average of $18.72. Vestis Co. has a 52-week low of $13.83 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.61 and a quick ratio of 2.23.

Vestis (NYSE:VSTS) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $724.72 million. Vestis’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that Vestis Co. will post 1.03 EPS for the current year.

Vestis Dividend Announcement

The firm 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. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.74%.

About Vestis

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.