638,254 Shares in Vestis Co. (NYSE:VSTS) Acquired by Private Management Group Inc.

Private Management Group Inc. purchased a new position in Vestis Co. (NYSE:VSTS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 638,254 shares of the company’s stock, valued at approximately $13,493,000. Private Management Group Inc. owned about 0.49% of Vestis as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Parkside Financial Bank & Trust purchased a new stake in shares of Vestis in the 4th quarter worth approximately $25,000. Sound Income Strategies LLC bought a new stake in shares of Vestis in the 4th quarter worth $25,000. CI Investments Inc. bought a new stake in shares of Vestis in the 3rd quarter worth $28,000. Daiwa Securities Group Inc. bought a new stake in shares of Vestis in the 4th quarter worth $34,000. Finally, S.A. Mason LLC bought a new stake in shares of Vestis in the 4th quarter worth $52,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insider Activity at Vestis

In related news, CEO Kim Scott bought 15,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

VSTS has been the subject of a number of research analyst reports. Barclays lowered Vestis from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $17.00 to $19.00 in a report on Wednesday, February 28th. Wolfe Research initiated coverage on Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 target price for the company. Finally, The Goldman Sachs Group began coverage on Vestis in a report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 target price for the company. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Vestis Price Performance

Shares of VSTS traded up $0.16 during trading hours on Tuesday, hitting $18.95. The stock had a trading volume of 753,590 shares, compared to its average volume of 1,609,372. 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 12 month low of $13.83 and a 12 month high of $22.37. The stock has a fifty day moving average price of $18.84 and a 200 day moving average price of $18.65.

Vestis (NYSE:VSTS) last released its earnings results 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 company had revenue of $717.90 million during the quarter, compared to the consensus estimate of $724.72 million. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, analysts anticipate that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a yield of 0.74%.

Vestis 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.