Franklin Resources Inc. lifted its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 34.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 561,384 shares of the company's stock after acquiring an additional 142,854 shares during the period. Franklin Resources Inc. owned 0.43% of Vestis worth $8,404,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Vestis in the third quarter worth about $27,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Vestis by 104.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock valued at $30,000 after acquiring an additional 1,020 shares during the period. Capital Performance Advisors LLP bought a new stake in Vestis during the third quarter worth approximately $41,000. Canada Pension Plan Investment Board acquired a new stake in Vestis in the second quarter worth approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Vestis during the 3rd quarter valued at $51,000. Institutional investors own 97.40% of the company's stock.
VSTS has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Barclays lifted their price objective 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, seven have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.73.
View Our Latest Stock Report on Vestis
Shares of NYSE VSTS opened at $16.39 on Monday. The firm has a market capitalization of $2.16 billion, a PE ratio of 102.44 and a beta of 1.17. Vestis Co. has a one year low of $8.92 and a one 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 business has a 50-day moving average price of $15.07 and a two-hundred day moving average price of $13.91.
Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The company had revenue of $684.28 million for the quarter, compared to analysts' expectations of $693.54 million. The firm's revenue was down 4.4% compared to the same quarter last year. As a group, analysts predict that Vestis Co. will post 0.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Vestis's payout ratio is currently 87.50%.
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.
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