Royce & Associates LP Purchases 270,441 Shares of Vestis Co. (NYSE:VSTS)

Royce & Associates LP boosted its position in Vestis Co. (NYSE:VSTS) by 39.2% during the fourth quarter, HoldingsChannel reports. The fund owned 959,830 shares of the company’s stock after buying an additional 270,441 shares during the quarter. Royce & Associates LP’s holdings in Vestis were worth $14,628,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new position in shares of Vestis in the third quarter valued at $27,000. Spire Wealth Management bought a new position in Vestis in the 4th quarter worth about $29,000. Nomura Asset Management Co. Ltd. grew its holdings in Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,020 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after buying an additional 2,123 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vestis in the third quarter worth about $51,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Up 1.9 %

Shares of NYSE VSTS opened at $11.02 on Tuesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 137.70 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. Vestis Co. has a one year low of $8.92 and a one year high of $19.76. The firm’s 50 day simple moving average is $13.87 and its two-hundred day simple moving average is $14.64.

Vestis (NYSE:VSTS) last issued its earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the previous year, the firm posted $0.22 EPS. As a group, analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, February 21st. Vestis’s dividend payout ratio is 175.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VSTS shares. JPMorgan Chase & Co. boosted their price target on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group decreased their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Barclays boosted their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, Vestis has a consensus rating of “Hold” and a consensus price target of $13.68.

Vestis Company 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.