Boothbay Fund Management LLC Has $3.93 Million Position in Vestis Co. (NYSE:VSTS)

Boothbay Fund Management LLC lessened its stake in Vestis Co. (NYSE:VSTS) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 257,790 shares of the company’s stock after selling 26,455 shares during the period. Boothbay Fund Management LLC owned about 0.20% of Vestis worth $3,929,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in shares of Vestis in the 4th quarter worth approximately $210,766,000. First Trust Advisors LP acquired a new position in shares of Vestis in the fourth quarter valued at $22,936,000. Birnam Oak Advisors LP bought a new position in Vestis in the fourth quarter worth $21,446,000. Dimensional Fund Advisors LP boosted its stake in Vestis by 46.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company’s stock worth $47,172,000 after buying an additional 980,303 shares in the last quarter. Finally, Topline Capital Management LLC bought a new stake in Vestis in the 4th quarter valued at $6,880,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Down 0.7 %

Shares of VSTS opened at $8.76 on Friday. The company has a market capitalization of $1.15 billion, a P/E ratio of 109.51 and a beta of 1.55. Vestis Co. has a one year low of $7.35 and a one year high of $18.99. The business’s 50 day simple moving average is $9.98 and its 200-day simple moving average is $13.35. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last announced its earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, sell-side analysts predict that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio is presently 175.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VSTS shares. Barclays reduced their price objective on shares of Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, April 4th. The Goldman Sachs Group cut their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Robert W. Baird lowered their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.08.

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.