Public Sector Pension Investment Board Cuts Position in Vestis Co. (NYSE:VSTS)

Public Sector Pension Investment Board reduced its stake in Vestis Co. (NYSE:VSTS - Free Report) by 16.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 242,692 shares of the company's stock after selling 46,500 shares during the quarter. Public Sector Pension Investment Board owned about 0.18% of Vestis worth $3,616,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock worth $45,197,000 after buying an additional 2,591,593 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 192,525 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Vestis by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock worth $18,854,000 after acquiring an additional 8,997 shares during the period. Forest Avenue Capital Management LP purchased a new position in Vestis during the third quarter valued at $19,486,000. Finally, Granite Investment Partners LLC acquired a new stake in shares of Vestis in the second quarter valued at about $13,752,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Vestis Stock Up 0.5 %

Vestis stock traded up $0.07 during trading on Tuesday, reaching $16.40. The stock had a trading volume of 1,525,054 shares, compared to its average volume of 2,134,870. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The business has a 50 day moving average price of $14.70 and a 200 day moving average price of $13.51. The stock has a market cap of $2.16 billion, a PE ratio of 102.44 and a beta of 1.17. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, December 13th. Vestis's 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.