Norges Bank Takes Position in Vestis Co. (NYSE:VSTS)

Norges Bank acquired a new stake in shares of Vestis Co. (NYSE:VSTSFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,467,982 shares of the company’s stock, valued at approximately $31,033,000. Norges Bank owned approximately 1.12% of Vestis at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC bought a new position in shares of Vestis during the 4th quarter valued at about $25,000. Parkside Financial Bank & Trust acquired a new stake in Vestis in the 4th quarter valued at approximately $25,000. CI Investments Inc. acquired a new stake in Vestis in the 3rd quarter valued at approximately $28,000. Daiwa Securities Group Inc. acquired a new stake in Vestis in the 4th quarter valued at approximately $34,000. Finally, S.A. Mason LLC acquired a new stake in Vestis in the 4th quarter valued at approximately $52,000. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Robert W. Baird dropped their target price on Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Vestis in a research report on Friday, May 3rd. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $11.00 in a research report on Friday, May 3rd. Redburn Atlantic lowered Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price target on the stock. in a research report on Tuesday, May 7th. Finally, Barclays lowered their price target on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.38.

Get Our Latest Research Report on VSTS

Vestis Price Performance

Shares of NYSE VSTS opened at $12.32 on Friday. The company has a current ratio of 2.51, a quick ratio of 2.16 and a debt-to-equity ratio of 1.69. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The stock has a 50 day moving average of $15.73 and a 200-day moving average of $18.15.

Vestis (NYSE:VSTSGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.09). The firm had revenue of $705.37 million during the quarter, compared to the consensus estimate of $722.54 million. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Vestis Co. will post 0.58 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Friday, June 14th will be paid a $0.035 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.14 annualized dividend and a yield of 1.14%.

Insider Activity at Vestis

In other news, Director Williams Ena Koschel purchased 8,500 shares of Vestis stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $12.27 per share, for a total transaction of $104,295.00. Following the purchase, the director now directly owns 29,266 shares of the company’s stock, valued at approximately $359,093.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Williams Ena Koschel purchased 8,500 shares of Vestis stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $12.27 per share, for a total transaction of $104,295.00. Following the purchase, the director now directly owns 29,266 shares of the company’s stock, valued at approximately $359,093.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Phillip Holloman purchased 20,200 shares of Vestis stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $9.93 per share, with a total value of $200,586.00. Following the completion of the purchase, the director now directly owns 44,132 shares in the company, valued at $438,230.76. The disclosure for this purchase can be found here. Insiders bought 2,830,779 shares of company stock worth $28,501,849 in the last ninety days.

Vestis Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Vestis (NYSE:VSTS)

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