TOMS Capital Investment Management LP Increases Position in Vestis Co. (NYSE:VSTS)

TOMS Capital Investment Management LP grew its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 22.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,330,155 shares of the company's stock after buying an additional 430,555 shares during the quarter. Vestis makes up 1.3% of TOMS Capital Investment Management LP's holdings, making the stock its 12th biggest holding. TOMS Capital Investment Management LP owned approximately 1.77% of Vestis worth $34,719,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VSTS. Price T Rowe Associates Inc. MD boosted its position in Vestis by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 80,179 shares of the company's stock valued at $1,546,000 after acquiring an additional 3,669 shares during the last quarter. Comerica Bank raised its holdings in shares of Vestis by 39.8% during 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 raised its holdings in shares of Vestis by 174.9% during the second quarter. CWM LLC now owns 13,240 shares of the company's stock valued at $162,000 after purchasing an additional 8,423 shares during the period. Annex Advisory Services LLC acquired a new position in shares of Vestis during the second quarter valued at about $3,130,000. Finally, Wedmont Private Capital acquired a new position in shares of Vestis during the second quarter valued at about $125,000. Institutional investors own 97.40% of the company's stock.

Vestis Trading Up 0.6 %

NYSE:VSTS traded up $0.09 during trading hours on Monday, reaching $16.17. The company's stock had a trading volume of 963,115 shares, compared to its average volume of 2,132,050. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 100.51 and a beta of 1.15. The firm has a 50-day simple moving average of $14.69 and a 200-day simple moving average of $13.49. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37. 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 Announces Dividend

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

Analysts Set New Price Targets

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

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.