Birnam Oak Advisors LP Makes New $21.45 Million Investment in Vestis Co. (NYSE:VSTS)

Birnam Oak Advisors LP bought a new stake in shares of Vestis Co. (NYSE:VSTS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,407,240 shares of the company's stock, valued at approximately $21,446,000. Vestis accounts for about 10.4% of Birnam Oak Advisors LP's portfolio, making the stock its 2nd biggest holding. Birnam Oak Advisors LP owned about 1.07% of Vestis as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in shares of Vestis in the third quarter worth $27,000. Spire Wealth Management purchased a new stake in shares of Vestis in the 4th quarter valued at about $29,000. Nomura Asset Management Co. Ltd. increased its position in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock worth $30,000 after purchasing an additional 1,020 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock valued at $38,000 after purchasing an additional 2,123 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vestis in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Analysts Set New Price Targets

VSTS has been the topic of a number of research analyst reports. Robert W. Baird decreased their price target on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised their price target on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Barclays lifted their price target on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group decreased their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, Vestis has an average rating of "Hold" and an average price target of $13.68.

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Vestis Trading Down 1.6 %

Shares of VSTS traded down $0.16 during trading hours on Friday, hitting $9.99. The company had a trading volume of 16,973,961 shares, compared to its average volume of 2,163,310. The firm has a market cap of $1.32 billion, a P/E ratio of 124.89 and a beta of 1.40. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $19.76. The stock's 50 day moving average price is $13.52 and its 200 day moving average price is $14.56. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the company posted $0.22 EPS. On average, research analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, February 21st. Vestis's dividend payout ratio (DPR) is presently 175.00%.

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.