Vestis Co. (NYSE:VSTS) Shares Acquired by BBR Partners LLC

BBR Partners LLC lifted its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 333.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,000 shares of the company's stock after buying an additional 50,000 shares during the quarter. BBR Partners LLC's holdings in Vestis were worth $968,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in Vestis by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 80,179 shares of the company's stock valued at $1,546,000 after buying an additional 3,669 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Vestis during the first quarter valued at approximately $1,069,000. Comerica Bank boosted its holdings in shares of Vestis by 39.8% in the first quarter. Comerica Bank now owns 168,552 shares of the company's stock valued at $3,248,000 after purchasing an additional 47,996 shares during the period. CWM LLC grew its stake in Vestis by 174.9% in the second quarter. CWM LLC now owns 13,240 shares of the company's stock worth $162,000 after purchasing an additional 8,423 shares in the last quarter. Finally, Annex Advisory Services LLC bought a new position in Vestis in the second quarter worth approximately $3,130,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Stock Down 0.9 %

VSTS traded down $0.15 during trading on Thursday, hitting $16.18. The stock had a trading volume of 1,601,315 shares, compared to its average volume of 1,796,027. The stock has a 50 day simple moving average of $14.67 and a two-hundred day simple moving average of $13.43. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. Vestis Co. has a twelve month low of $8.92 and a twelve month high of $22.37. The company has a market capitalization of $2.13 billion and a PE ratio of 101.13.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be given a $0.035 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.87%. Vestis's payout ratio is 87.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Robert W. Baird lowered shares of Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price objective for the company. in a research note on Thursday, August 8th. Baird R W cut shares of Vestis from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 8th. Barclays boosted their price target on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.43.

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.