Fractal Investments LLC Makes New Investment in Vestis Co. (NYSE:VSTS)

Fractal Investments LLC bought a new position in shares of Vestis Co. (NYSE:VSTS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 25,200 shares of the company’s stock, valued at approximately $533,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in Vestis during the fourth quarter worth $25,000. Parkside Financial Bank & Trust purchased a new position in shares of Vestis in the fourth quarter valued at $25,000. CI Investments Inc. acquired a new position in shares of Vestis during the 3rd quarter worth $28,000. Daiwa Securities Group Inc. purchased a new stake in shares of Vestis in the 4th quarter worth about $34,000. Finally, S.A. Mason LLC acquired a new stake in Vestis in the 4th quarter valued at about $52,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vestis

In other news, CEO Kim Scott acquired 15,000 shares of the business’s stock in a transaction dated 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 approximately $3,505,127.34. The purchase was disclosed in a filing with the SEC, which is available through this link.

Vestis Stock Performance

Vestis stock traded down $0.24 during trading on Wednesday, hitting $18.70. The company’s stock had a trading volume of 949,255 shares, compared to its average volume of 1,605,569. The stock’s fifty day moving average is $18.84 and its 200 day moving average is $18.65. 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 1-year low of $13.83 and a 1-year high of $22.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings data 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 firm had revenue of $717.90 million for the quarter, compared to analyst estimates of $724.72 million. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.75%.

Analyst Upgrades and Downgrades

VSTS has been the subject of a number of research reports. Barclays cut shares of 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 research report on Wednesday, February 28th. Wolfe Research began coverage on Vestis in a report on Thursday, January 11th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on Vestis in a report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.56.

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.