213,937 Shares in Vestis Co. (NYSE:VSTS) Bought by California Public Employees Retirement System

California Public Employees Retirement System purchased a new stake in shares of Vestis Co. (NYSE:VSTS) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 213,937 shares of the company’s stock, valued at approximately $4,523,000.

A number of other hedge funds have also modified their holdings of VSTS. Sound Income Strategies LLC purchased a new stake in Vestis in the fourth quarter valued at approximately $25,000. CI Investments Inc. acquired a new position in Vestis in the 3rd quarter worth approximately $28,000. Daiwa Securities Group Inc. acquired a new position in Vestis in the 4th quarter worth approximately $34,000. S.A. Mason LLC acquired a new position in Vestis in the 4th quarter worth approximately $52,000. Finally, Rosenberg Matthew Hamilton acquired a new position in Vestis in the 4th quarter worth approximately $55,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vestis

In related news, CEO Kim Scott purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased 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 owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on VSTS shares. Barclays cut their price target on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday. Robert W. Baird cut their price target on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday. Stifel Nicolaus reiterated a “hold” rating on shares of Vestis in a report on Friday. Wolfe Research initiated coverage on shares of Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. cut shares of Vestis from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $11.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vestis has a consensus rating of “Hold” and an average price target of $19.33.

Vestis Stock Performance

Shares of NYSE VSTS opened at $9.41 on Friday. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The firm’s 50 day simple moving average is $18.38 and its 200-day simple moving average is $18.69. The company has a quick ratio of 2.23, a current ratio of 2.51 and a debt-to-equity ratio of 1.69.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The company had revenue of $705.37 million for the quarter, compared to analysts’ expectations of $722.54 million. The business’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Vestis Co. will post 1.03 EPS for the current year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.49%.

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.