New York State Teachers Retirement System Takes Position in Vestis Co. (NYSE:VSTS)

New York State Teachers Retirement System purchased a new stake in shares of Vestis Co. (NYSE:VSTS) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 80,265 shares of the company’s stock, valued at approximately $1,697,000. New York State Teachers Retirement System owned approximately 0.06% of Vestis at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB purchased a new position in shares of Vestis during the 4th quarter valued at $3,909,000. State of Alaska Department of Revenue purchased a new position in shares of Vestis during the 4th quarter valued at $1,700,000. Rosenberg Matthew Hamilton purchased a new position in shares of Vestis during the 4th quarter valued at $55,000. Wolverine Asset Management LLC bought a new stake in shares of Vestis during the 3rd quarter worth $2,412,000. Finally, SG Americas Securities LLC bought a new stake in shares of Vestis during the 4th quarter worth $223,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Vestis Price Performance

Vestis stock opened at $18.70 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.61 and a quick ratio of 2.23. The firm has a fifty day simple moving average of $18.91 and a two-hundred day simple moving average of $18.57. Vestis Co. has a twelve month low of $13.83 and a twelve month high of $22.37.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business 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% compared to the same quarter last year. On average, research analysts predict that Vestis Co. will post 1.03 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The company also recently disclosed 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. This represents a $0.14 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, March 14th.

Insider Activity

In other news, CEO Kim Scott acquired 15,000 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $19.14 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which is available 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.