198,795 Shares in Vestis Co. (NYSE:VSTS) Acquired by Algert Global LLC

Algert Global LLC bought a new stake in shares of Vestis Co. (NYSE:VSTS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 198,795 shares of the company’s stock, valued at approximately $2,431,000. Algert Global LLC owned approximately 0.15% of Vestis as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TFO Wealth Partners LLC purchased a new stake in Vestis in the fourth quarter worth about $42,000. Wahed Invest LLC purchased a new position in shares of Vestis in the 4th quarter valued at $42,000. Canada Pension Plan Investment Board acquired a new position in Vestis during the 2nd quarter valued at about $44,000. nVerses Capital LLC purchased a new stake in Vestis in the second quarter valued at approximately $61,000. Finally, PNC Financial Services Group Inc. acquired a new position in Vestis in the 4th quarter worth approximately $65,000. Institutional investors own 97.40% of the company’s stock.

Vestis Price Performance

Shares of VSTS stock opened at $14.77 on Wednesday. The stock has a 50 day simple moving average of $13.85 and a 200-day simple moving average of $14.23. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. The firm had revenue of $698.20 million during the quarter, compared to analysts’ expectations of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Vestis Co. will post 0.64 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.95%.

Analyst Ratings Changes

A number of analysts have recently weighed in on VSTS shares. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price target on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.69.

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.