Wolverine Asset Management LLC Boosts Position in Vestis Co. (NYSE:VSTS)

Wolverine Asset Management LLC boosted its holdings in Vestis Co. (NYSE:VSTS) by 48.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 185,000 shares of the company’s stock after buying an additional 60,000 shares during the period. Wolverine Asset Management LLC’s holdings in Vestis were worth $3,911,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. New York State Common Retirement Fund acquired a new stake in Vestis in the fourth quarter valued at approximately $22,818,000. Soros Fund Management LLC acquired a new stake in Vestis in the third quarter valued at approximately $14,714,000. California Public Employees Retirement System acquired a new stake in Vestis in the fourth quarter valued at approximately $4,523,000. Nordea Investment Management AB acquired a new stake in Vestis in the fourth quarter valued at approximately $3,909,000. Finally, Wedge Capital Management L L P NC acquired a new stake in Vestis in the fourth quarter valued at approximately $2,675,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VSTS shares. Barclays downgraded shares of Vestis from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $17.00 to $19.00 in a research report on Wednesday, February 28th. Wolfe Research started coverage on Vestis in a research note on Thursday, January 11th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on Vestis in a research note on Thursday, January 25th. They set a “neutral” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Vestis currently has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Vestis Price Performance

NYSE:VSTS traded down $0.15 during mid-day trading on Wednesday, reaching $18.79. 239,741 shares of the stock were exchanged, compared to its average volume of 1,593,791. The business has a fifty day moving average price of $18.84 and a 200 day moving average price of $18.65. Vestis Co. has a 1-year low of $13.83 and a 1-year high of $22.37. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.61 and a quick ratio of 2.23.

Vestis (NYSE:VSTS) last released its earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $717.90 million during the quarter, compared to analysts’ expectations of $724.72 million. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Vestis Co. will post 1.03 EPS for the current year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a yield of 0.75%.

Insider Buying and Selling at Vestis

In other Vestis news, CEO Kim Scott bought 15,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the purchase, the chief executive officer now directly owns 183,131 shares in the company, valued at approximately $3,505,127.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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.