Bardin Hill Management Partners LP Takes $2.62 Million Position in Vestis Co. (NYSE:VSTS)

Bardin Hill Management Partners LP purchased a new position in shares of Vestis Co. (NYSE:VSTS - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 175,867 shares of the company's stock, valued at approximately $2,620,000. Vestis accounts for approximately 1.2% of Bardin Hill Management Partners LP's investment portfolio, making the stock its 20th largest position. Bardin Hill Management Partners LP owned 0.13% of Vestis as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of VSTS. Brooklyn Investment Group acquired a new position in shares of Vestis in the third quarter worth about $27,000. Capital Performance Advisors LLP acquired a new position in shares of Vestis in the 3rd quarter worth approximately $41,000. Canada Pension Plan Investment Board bought a new position in shares of Vestis in the 2nd quarter worth about $44,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vestis during the 3rd quarter worth approximately $51,000. Finally, GAMMA Investing LLC grew its stake in Vestis by 143.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock worth $59,000 after buying an additional 2,334 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Baird R W cut shares of Vestis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Barclays raised their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research report on Friday, November 22nd. Finally, Robert W. Baird cut shares of Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 target price for the company. in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Vestis has a consensus rating of "Hold" and an average target price of $16.91.

Vestis Stock Up 0.6 %

Shares of VSTS traded up $0.09 during midday trading on Monday, reaching $16.17. 963,115 shares of the stock were exchanged, compared to its average volume of 2,132,050. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 100.51 and a beta of 1.15. The firm has a 50 day simple moving average of $14.69 and a 200-day simple moving average of $13.49. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40.

Vestis Announces Dividend

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 $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis's dividend payout ratio is 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.