Algert Global LLC Buys 76,940 Shares of Vestis Co. (NYSE:VSTS)

Algert Global LLC increased its position in Vestis Co. (NYSE:VSTS - Free Report) by 38.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,735 shares of the company's stock after purchasing an additional 76,940 shares during the period. Algert Global LLC owned approximately 0.21% of Vestis worth $4,108,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock worth $45,197,000 after purchasing an additional 2,591,593 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in Vestis in the 2nd quarter valued at $13,752,000. Assenagon Asset Management S.A. lifted its stake in Vestis by 99.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company's stock valued at $12,287,000 after acquiring an additional 411,466 shares in the last quarter. Stanley Capital Management LLC boosted its holdings in Vestis by 524.2% during the 2nd quarter. Stanley Capital Management LLC now owns 476,300 shares of the company's stock worth $5,825,000 after acquiring an additional 400,000 shares during the last quarter. Finally, Annex Advisory Services LLC purchased a new position in Vestis during the 2nd quarter worth $3,130,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday. Baird R W downgraded Vestis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price target on Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research report on Friday. Barclays boosted their price objective on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research report on Friday. Finally, Robert W. Baird lowered Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 target price for the company. in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.43.

Vestis Stock Performance

Shares of VSTS stock traded up $0.29 on Monday, hitting $16.31. 3,262,054 shares of the stock were exchanged, compared to its average volume of 2,144,712. The firm's 50 day moving average is $14.60 and its two-hundred day moving average is $13.35. Vestis Co. has a one year low of $8.92 and a one year high of $22.37. The firm has a market capitalization of $2.14 billion and a PE ratio of 100.13. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%. Vestis's dividend payout ratio is presently 87.51%.

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.