Wellington Management Group LLP Cuts Holdings in Vestis Co. (NYSE:VSTS)

Wellington Management Group LLP lowered its holdings in Vestis Co. (NYSE:VSTS) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,879,468 shares of the company’s stock after selling 204,854 shares during the quarter. Wellington Management Group LLP owned 2.19% of Vestis worth $43,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC lifted its stake in Vestis by 223.0% during the 3rd quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after acquiring an additional 249,479 shares during the period. Annex Advisory Services LLC lifted its position in Vestis by 13.5% during the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock valued at $4,479,000 after purchasing an additional 34,951 shares during the period. Raymond James Financial Inc. purchased a new stake in Vestis in the fourth quarter worth approximately $2,194,000. Proficio Capital Partners LLC bought a new stake in Vestis in the 4th quarter worth approximately $185,000. Finally, Ieq Capital LLC raised its stake in Vestis by 689.7% during the 4th quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock valued at $2,449,000 after buying an additional 140,324 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on VSTS shares. The Goldman Sachs Group cut their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Barclays cut their price target on Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Robert W. Baird lowered their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Vestis has an average rating of “Hold” and a consensus price target of $13.08.

Vestis Trading Down 12.3 %

Vestis stock opened at $7.93 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. Vestis Co. has a 12-month low of $7.89 and a 12-month high of $19.76. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 99.15 and a beta of 1.40. The firm has a 50 day moving average of $12.10 and a 200 day moving average of $14.18.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $0.22 EPS. As a group, research analysts predict that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were issued a $0.035 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.77%. Vestis’s dividend payout ratio is presently 175.00%.

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.