Lecap Asset Management Ltd. Lowers Position in Vestis Co. (NYSE:VSTS)

Lecap Asset Management Ltd. reduced its position in shares of Vestis Co. (NYSE:VSTS) by 21.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,439 shares of the company’s stock after selling 14,313 shares during the period. Lecap Asset Management Ltd.’s holdings in Vestis were worth $784,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp acquired a new position in Vestis during the 2nd quarter worth approximately $224,000. GAMMA Investing LLC grew its holdings in Vestis by 143.5% during the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after acquiring an additional 2,334 shares during the period. CWM LLC raised its position in Vestis by 253.7% in the third quarter. CWM LLC now owns 46,834 shares of the company’s stock worth $698,000 after acquiring an additional 33,594 shares in the last quarter. Wedmont Private Capital raised its position in Vestis by 58.1% in the third quarter. Wedmont Private Capital now owns 16,037 shares of the company’s stock worth $235,000 after acquiring an additional 5,892 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in Vestis by 1.2% in the third quarter. Annex Advisory Services LLC now owns 258,948 shares of the company’s stock valued at $3,858,000 after acquiring an additional 3,036 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VSTS shares. JPMorgan Chase & Co. upped their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays increased their target price on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price target on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.08.

Vestis Stock Up 0.2 %

VSTS stock opened at $13.78 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The company’s 50 day simple moving average is $15.81 and its 200-day simple moving average is $14.73. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $20.28. The firm has a market capitalization of $1.82 billion, a PE ratio of 172.27 and a beta of 1.16.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be issued a $0.035 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.02%. Vestis’s dividend payout ratio (DPR) is 175.02%.

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.