Federated Hermes Inc. Takes $1.72 Million Position in Vestis Co. (NYSE:VSTS)

Federated Hermes Inc. bought a new stake in Vestis Co. (NYSE:VSTS) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 81,293 shares of the company’s stock, valued at approximately $1,719,000.

Other large investors also recently made changes to their positions in the company. Strs Ohio acquired a new position in Vestis during the 3rd quarter worth approximately $359,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Vestis during the third quarter worth approximately $1,318,000. Wolverine Asset Management LLC bought a new position in shares of Vestis in the 3rd quarter worth $2,412,000. CI Investments Inc. acquired a new stake in Vestis in the 3rd quarter valued at $28,000. Finally, Soros Fund Management LLC bought a new stake in Vestis during the 3rd quarter valued at $14,714,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Performance

NYSE:VSTS opened at $18.83 on Tuesday. Vestis Co. has a 52 week low of $13.83 and a 52 week high of $22.37. The firm has a 50-day moving average price of $18.82 and a two-hundred day moving average price of $18.75. 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 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 company had revenue of $717.90 million during the quarter, compared to the consensus estimate of $724.72 million. Vestis’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Vestis Co. will post 1.03 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, March 14th.

Wall Street Analyst Weigh In

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

Insider Activity at Vestis

In related news, CEO Kim Scott acquired 15,000 shares of the stock in a transaction on Friday, February 9th. The shares were 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 in the company, valued at approximately $3,505,127.34. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Vestis Company 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.