126,536 Shares in Vestis Co. (NYSE:VSTS) Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new position in Vestis Co. (NYSE:VSTS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 126,536 shares of the company’s stock, valued at approximately $2,675,000. Wedge Capital Management L L P NC owned about 0.10% of Vestis at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Soros Fund Management LLC purchased a new stake in Vestis in the 3rd quarter valued at about $14,714,000. Nordea Investment Management AB bought a new position in shares of Vestis during the 4th quarter valued at approximately $3,909,000. Wolverine Asset Management LLC bought a new position in shares of Vestis during the 3rd quarter valued at approximately $2,412,000. Federated Hermes Inc. bought a new position in shares of Vestis during the 4th quarter valued at approximately $1,719,000. Finally, State of Alaska Department of Revenue bought a new position in Vestis in the 4th quarter worth approximately $1,700,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Vestis in a report on Thursday, January 25th. They set a “neutral” rating and a $22.00 target price on the stock. Finally, Barclays lowered shares of 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.56.

Insider Buying and Selling

In other Vestis news, CEO Kim Scott bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the transaction, the chief executive officer now directly owns 183,131 shares in the company, valued at $3,505,127.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Vestis Trading Down 1.3 %

Vestis stock opened at $18.70 on Thursday. The firm’s fifty day moving average price is $18.84 and its 200-day moving average price is $18.65. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61. Vestis Co. has a fifty-two week low of $13.83 and a fifty-two week high of $22.37.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $724.72 million. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts forecast that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Thursday, March 14th.

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.