Bfsg LLC Invests $135,000 in Vestis Co. (NYSE:VSTS)

Bfsg LLC bought a new stake in Vestis Co. (NYSE:VSTS) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,376 shares of the company’s stock, valued at approximately $135,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB bought a new position in shares of Vestis during the fourth quarter worth approximately $3,909,000. New York State Teachers Retirement System bought a new position in shares of Vestis during the fourth quarter worth approximately $1,697,000. State of Alaska Department of Revenue bought a new position in shares of Vestis during the fourth quarter worth approximately $1,700,000. Rosenberg Matthew Hamilton bought a new position in shares of Vestis during the fourth quarter worth approximately $55,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Vestis during the third quarter worth approximately $2,412,000. 97.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays lowered shares of Vestis from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $17.00 to $19.00 in a research report on Wednesday, February 28th. The Goldman Sachs Group assumed coverage on shares of Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.56.

Insiders Place Their Bets

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

Vestis Price Performance

NYSE VSTS traded down $0.03 during trading hours on Thursday, reaching $18.67. 111,315 shares of the company’s stock traded hands, compared to its average volume of 1,588,732. The firm has a 50-day simple moving average of $18.84 and a 200 day simple moving average of $18.65. Vestis Co. has a 52-week low of $13.83 and a 52-week high of $22.37. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73.

Vestis (NYSE:VSTS) last released its 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 analysts’ expectations of $724.72 million. The company’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Vestis Co. will post 1.03 EPS for the current year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend 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.