Walleye Capital LLC Makes New $1.66 Million Investment in Vestis Co. (NYSE:VSTS)

Walleye Capital LLC acquired a new position in shares of Vestis Co. (NYSE:VSTS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 111,049 shares of the company's stock, valued at approximately $1,655,000. Walleye Capital LLC owned about 0.08% of Vestis at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VSTS. Brooklyn Investment Group bought a new stake in Vestis during the third quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Vestis in the third quarter valued at about $41,000. Canada Pension Plan Investment Board bought a new position in shares of Vestis during the second quarter valued at about $44,000. GAMMA Investing LLC increased its position in shares of Vestis by 143.5% during the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock valued at $59,000 after acquiring an additional 2,334 shares during the last quarter. Finally, Copeland Capital Management LLC bought a new position in Vestis during the third quarter valued at about $60,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on VSTS shares. The Goldman Sachs Group increased their target price 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. JPMorgan Chase & Co. upped their target price on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Barclays lifted 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. Robert W. Baird cut shares of Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price objective on the stock. in a research report on Thursday, August 8th. Finally, Baird R W cut shares of Vestis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $16.91.

Vestis Trading Down 0.7 %

Shares of VSTS traded down $0.11 during trading hours on Thursday, hitting $16.25. The company had a trading volume of 527,546 shares, compared to its average volume of 2,124,194. The firm has a market cap of $2.14 billion, a P/E ratio of 102.26 and a beta of 1.17. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The stock's 50 day moving average price is $14.74 and its 200 day moving average price is $13.56. 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 (NYSE:VSTS - Get Free Report) last issued 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). The firm had revenue of $684.28 million for the quarter, compared to the consensus estimate of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts predict that Vestis Co. will post 0.66 EPS for the current year.

Vestis Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.86%. Vestis's dividend payout ratio (DPR) 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.