Mutual of America Capital Management LLC Invests $484,000 in Vestis Co. (NYSE:VSTS)

Mutual of America Capital Management LLC purchased a new stake in Vestis Co. (NYSE:VSTS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,880 shares of the company’s stock, valued at approximately $484,000.

Several other large investors have also recently added to or reduced their stakes in VSTS. Sound Income Strategies LLC acquired a new position in shares of Vestis in the 4th quarter worth approximately $25,000. CI Investments Inc. acquired a new position in shares of Vestis in the 3rd quarter worth approximately $28,000. S.A. Mason LLC acquired a new position in shares of Vestis in the 4th quarter worth approximately $52,000. Rosenberg Matthew Hamilton acquired a new position in shares of Vestis in the 4th quarter worth approximately $55,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Vestis in the 4th quarter worth approximately $89,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insider Transactions at Vestis

In related news, CEO Kim Scott purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the purchase, the chief executive officer now owns 183,131 shares in the company, valued at approximately $3,505,127.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays lowered 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. The Goldman Sachs Group assumed coverage on Vestis in a research report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, Wolfe Research assumed coverage on Vestis in a research report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Vestis Stock Performance

VSTS opened at $18.95 on Wednesday. The business’s 50-day moving average price is $18.84 and its two-hundred day moving average price is $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 analyst estimates of $724.72 million. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Thursday, March 14th.

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.