Point72 Asset Management L.P. Purchases 41,833 Shares of Vestis Co. (NYSE:VSTS)

Point72 Asset Management L.P. boosted its holdings in shares of Vestis Co. (NYSE:VSTS) by 19.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,029 shares of the company’s stock after purchasing an additional 41,833 shares during the period. Point72 Asset Management L.P. owned about 0.19% of Vestis worth $3,800,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of VSTS. Brooklyn Investment Group bought a new stake in shares of Vestis during the 3rd quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in Vestis during the third quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vestis in the third quarter worth about $51,000. Canada Pension Plan Investment Board acquired a new stake in shares of Vestis in the 2nd quarter valued at approximately $44,000. Finally, GAMMA Investing LLC boosted its stake in shares of Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after purchasing an additional 2,334 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on VSTS shares. Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group upped their target price on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.91.

Vestis Trading Up 0.2 %

Shares of VSTS stock opened at $16.33 on Monday. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 102.06 and a beta of 1.17. The stock has a 50-day moving average of $14.78 and a 200-day moving average of $13.62.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million for the quarter, compared to the consensus estimate of $693.54 million. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities research analysts forecast that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%. Vestis’s payout ratio is currently 87.50%.

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.