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

Lecap Asset Management Ltd. decreased its holdings in shares of Vestis Co. (NYSE:VSTS) by 21.8% during the 4th quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in VSTS. Truist Financial Corp purchased a new position in Vestis during the second quarter worth about $224,000. GAMMA Investing LLC increased its stake in shares of Vestis by 143.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after acquiring an additional 2,334 shares during the last quarter. CWM LLC lifted its holdings in shares of Vestis by 253.7% during the 3rd quarter. CWM LLC now owns 46,834 shares of the company’s stock worth $698,000 after acquiring an additional 33,594 shares during the period. Wedmont Private Capital boosted its position in shares of 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 during the last quarter. Finally, Annex Advisory Services LLC grew 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 purchasing an additional 3,036 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Vestis Stock Performance

Shares of VSTS stock opened at $13.78 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. The company has a market cap of $1.82 billion, a PE ratio of 172.27 and a beta of 1.16. The company’s fifty day simple moving average is $15.81 and its 200-day simple moving average is $14.73. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $20.28.

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

Vestis Dividend Announcement

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 given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.02%. Vestis’s payout ratio is currently 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.