Invesco Ltd. Acquires 15,926 Shares of Vestis Co. (NYSE:VSTS)

Invesco Ltd. boosted its holdings in shares of Vestis Co. (NYSE:VSTS) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606,901 shares of the company’s stock after acquiring an additional 15,926 shares during the period. Invesco Ltd. owned 0.46% of Vestis worth $9,249,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in shares of Vestis during the fourth quarter valued at approximately $210,766,000. Charles Schwab Investment Management Inc. lifted its stake in Vestis by 17.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company’s stock valued at $38,693,000 after acquiring an additional 382,071 shares during the period. Birnam Oak Advisors LP purchased a new stake in Vestis in the fourth quarter worth approximately $21,446,000. Bank of New York Mellon Corp grew its holdings in shares of Vestis by 20.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company’s stock worth $16,717,000 after acquiring an additional 188,661 shares during the period. Finally, Royce & Associates LP raised its position in Vestis by 39.2% in the fourth quarter. Royce & Associates LP now owns 959,830 shares of the company’s stock worth $14,628,000 after acquiring an additional 270,441 shares during the period. Institutional investors own 97.40% of the company’s stock.

Vestis Price Performance

Shares of NYSE:VSTS opened at $8.33 on Thursday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 104.14 and a beta of 1.55. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company has a 50-day simple moving average of $10.18 and a 200-day simple moving average of $13.44. Vestis Co. has a one year low of $7.35 and a one year high of $18.99.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the prior year, the company earned $0.22 earnings per share. On average, analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.68%. Vestis’s payout ratio is currently 175.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. The Goldman Sachs Group decreased their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Barclays reduced their price objective on shares of Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, April 4th. Finally, Robert W. Baird dropped their price target on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.08.

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.