Yousif Capital Management LLC Buys Shares of 66,231 Vestis Co. (NYSE:VSTS)

Yousif Capital Management LLC bought a new position in Vestis Co. (NYSE:VSTS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,231 shares of the company’s stock, valued at approximately $1,400,000.

Other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in Vestis during the 4th quarter worth approximately $25,000. Sound Income Strategies LLC acquired a new position in shares of Vestis during the fourth quarter worth $25,000. CI Investments Inc. bought a new position in shares of Vestis in the 3rd quarter valued at $28,000. Daiwa Securities Group Inc. bought a new position in shares of Vestis in the 4th quarter valued at $34,000. Finally, S.A. Mason LLC acquired a new stake in shares of Vestis during the 4th quarter valued at $52,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kim Scott purchased 15,000 shares of the business’s 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 of the company’s stock, valued at approximately $3,505,127.34. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Vestis Trading Down 44.9 %

NYSE VSTS opened at $10.19 on Friday. The business’s 50-day moving average price is $18.60 and its two-hundred day moving average price is $18.71. 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 Co. has a 12 month low of $8.92 and a 12 month high of $22.37.

Vestis (NYSE:VSTS) last announced its earnings results on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $717.90 million during 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. Sell-side analysts expect that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 14th.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VSTS. Barclays cut Vestis from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $17.00 to $19.00 in a report on Wednesday, February 28th. Wolfe Research started coverage on Vestis in a report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on shares of Vestis in a report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

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.