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

Wedge Capital Management L L P NC purchased a new position in shares of Vestis Co. (NYSE:VSTS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 126,536 shares of the company’s stock, valued at approximately $2,675,000.

Other large investors have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Vestis during the 4th quarter worth about $25,000. CI Investments Inc. purchased a new position in shares of Vestis during the 3rd quarter worth about $28,000. Daiwa Securities Group Inc. purchased a new position in shares of Vestis during the 4th quarter worth about $34,000. S.A. Mason LLC purchased a new position in shares of Vestis during the 4th quarter worth about $52,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Vestis during the 4th quarter worth about $55,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Trading Down 1.3 %

NYSE:VSTS opened at $18.70 on Thursday. Vestis Co. has a one year low of $13.83 and a one year high of $22.37. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61. The firm has a 50-day simple moving average of $18.84 and a 200-day simple moving average of $18.65.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 EPS 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 analyst estimates of $724.72 million. Vestis’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, 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 declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.75%.

Analysts Set New Price Targets

VSTS has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of Vestis in a report on Thursday, January 11th. They set 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 price objective for the company. Finally, Barclays lowered shares of Vestis from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $17.00 to $19.00 in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.56.

Insider Activity

In other Vestis news, CEO Kim Scott purchased 15,000 shares of Vestis stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the acquisition, the chief executive officer now owns 183,131 shares in the company, valued at approximately $3,505,127.34. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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.