Boussard & Gavaudan Investment Management LLP Acquires Shares of 379,628 Vestis Co. (NYSE:VSTS)

Boussard & Gavaudan Investment Management LLP bought a new stake in shares of Vestis Co. (NYSE:VSTS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 379,628 shares of the company's stock, valued at approximately $5,674,000. Boussard & Gavaudan Investment Management LLP owned about 0.29% of Vestis as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of Vestis by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company's stock valued at $808,000 after buying an additional 1,000 shares during the period. KBC Group NV grew its holdings in shares of Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company's stock valued at $71,000 after buying an additional 1,619 shares during the period. Brooklyn Investment Group acquired a new position in shares of Vestis in the 3rd quarter valued at $27,000. Crossmark Global Holdings Inc. grew its holdings in shares of Vestis by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company's stock valued at $266,000 after buying an additional 1,900 shares during the period. Finally, Everence Capital Management Inc. grew its holdings in shares of Vestis by 17.5% in the 3rd quarter. Everence Capital Management Inc. now owns 14,210 shares of the company's stock valued at $212,000 after buying an additional 2,120 shares during the period. Institutional investors own 97.40% of the company's stock.

Vestis Stock Performance

Shares of NYSE:VSTS traded down $0.15 on Thursday, reaching $16.18. 1,601,315 shares of the company's stock were exchanged, compared to its average volume of 1,796,027. The company has a fifty day moving average of $14.67 and a 200-day moving average of $13.43. 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 price-to-earnings ratio of 101.13. 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 Announces Dividend

The business 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. 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 0.87%. Vestis's dividend payout ratio is currently 87.51%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VSTS. Baird R W downgraded shares of Vestis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research note on Friday, November 22nd. The Goldman Sachs Group upped their target price on shares of Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a 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 on the stock. in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Vestis currently has an average rating of "Hold" and a consensus price target of $17.43.

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.