Wellington Management Group LLP lessened its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,084,322 shares of the company's stock after selling 298,472 shares during the period. Wellington Management Group LLP owned approximately 2.35% of Vestis worth $45,956,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in VSTS. Brooklyn Investment Group bought a new position in shares of Vestis during the third quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in Vestis during the 3rd quarter valued at about $41,000. Canada Pension Plan Investment Board purchased a new position in Vestis in the second quarter worth about $44,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vestis in the third quarter worth approximately $51,000. Finally, GAMMA Investing LLC grew its holdings in shares of Vestis by 143.5% during the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock valued at $59,000 after buying an additional 2,334 shares during the last quarter. 97.40% of the stock is owned by institutional investors.
Shares of NYSE:VSTS opened at $16.46 on Thursday. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 102.88 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. The stock's 50-day simple moving average is $14.88 and its two-hundred day simple moving average is $13.70.
Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The business had revenue of $684.28 million for the quarter, compared to analysts' expectations of $693.54 million. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. Analysts expect that Vestis Co. will post 0.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.85%. Vestis's dividend payout ratio (DPR) is presently 87.51%.
A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $16.91.
Get Our Latest Report on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Vestis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vestis wasn't on the list.
While Vestis currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.