Federated Hermes Inc. Buys Shares of 81,293 Vestis Co. (NYSE:VSTS)

Federated Hermes Inc. bought a new position in Vestis Co. (NYSE:VSTS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 81,293 shares of the company’s stock, valued at approximately $1,719,000. Federated Hermes Inc. owned 0.06% of Vestis as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio acquired a new position in Vestis during the third quarter worth $359,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Vestis during the 3rd quarter worth about $1,318,000. Wolverine Asset Management LLC bought a new position in shares of Vestis in the 3rd quarter valued at about $2,412,000. CI Investments Inc. acquired a new stake in shares of Vestis in the third quarter valued at about $28,000. Finally, Soros Fund Management LLC bought a new stake in Vestis during the third quarter worth about $14,714,000. 97.40% of the stock is owned by institutional investors.

Vestis Stock Down 0.4 %

NYSE:VSTS opened at $18.83 on Tuesday. The firm’s fifty day moving average price is $18.82 and its two-hundred day moving average price is $18.75. Vestis Co. has a one year low of $13.83 and a one year high of $22.37. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73.

Vestis (NYSE:VSTS) last announced its earnings results on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $717.90 million for the quarter, compared to analyst estimates of $724.72 million. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts anticipate that Vestis Co. will post 1.03 EPS for the current year.

Vestis Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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.