HighTower Advisors LLC Raises Holdings in Vestis Co. (NYSE:VSTS)

HighTower Advisors LLC raised its stake in Vestis Co. (NYSE:VSTS - Free Report) by 223.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 361,348 shares of the company's stock after acquiring an additional 249,479 shares during the period. HighTower Advisors LLC owned approximately 0.27% of Vestis worth $5,386,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of VSTS. AQR Capital Management LLC increased its position in 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. TOMS Capital Investment Management LP grew its stake in shares of Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock worth $34,719,000 after buying an additional 430,555 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Vestis by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock worth $32,136,000 after buying an additional 192,525 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Vestis by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock worth $18,854,000 after buying an additional 8,997 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new stake in shares of Vestis during the 3rd quarter valued at about $19,486,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

VSTS has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.91.

Vestis Trading Down 1.0 %

VSTS stock traded down $0.16 during mid-day trading on Wednesday, reaching $16.46. The company had a trading volume of 2,340,073 shares, compared to its average volume of 2,131,670. The firm has a 50 day moving average of $14.88 and a 200 day moving average of $13.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a market capitalization of $2.16 billion, a PE ratio of 102.88 and a beta of 1.15.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million for the quarter, compared to analysts' expectations of $693.54 million. The business's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts predict that Vestis Co. will post 0.66 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.85%. Vestis's payout ratio is presently 87.51%.

Vestis 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.