Weiss Asset Management LP Invests $1.23 Million in Vestis Co. (NYSE:VSTS)

Weiss Asset Management LP acquired a new stake in shares of Vestis Co. (NYSE:VSTS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 82,676 shares of the company's stock, valued at approximately $1,232,000. Weiss Asset Management LP owned 0.06% of Vestis as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. LMR Partners LLP lifted its position in shares of Vestis by 726.8% during the third quarter. LMR Partners LLP now owns 160,528 shares of the company's stock valued at $2,392,000 after buying an additional 141,113 shares during the last quarter. Private Management Group Inc. grew its stake in Vestis by 9.2% during the 2nd quarter. Private Management Group Inc. now owns 692,394 shares of the company's stock worth $8,468,000 after buying an additional 58,538 shares during the last quarter. Royce & Associates LP increased its position in Vestis by 10.7% during the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company's stock valued at $10,272,000 after buying an additional 66,621 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Vestis in the second quarter valued at about $1,627,000. Finally, Renaissance Technologies LLC grew its stake in shares of Vestis by 15.3% during the second quarter. Renaissance Technologies LLC now owns 453,658 shares of the company's stock worth $5,548,000 after acquiring an additional 60,058 shares during the last quarter. Institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on VSTS shares. JPMorgan Chase & Co. increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Barclays raised their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group upped their target price on Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $16.91.

Vestis Stock Performance

Shares of VSTS stock traded down $0.03 during trading hours on Monday, hitting $16.30. The company's stock had a trading volume of 1,994,898 shares, compared to its average volume of 2,125,147. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The company has a 50 day moving average of $14.78 and a 200 day moving average of $13.62. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The stock has a market cap of $2.14 billion, a PE ratio of 102.07 and a beta of 1.15.

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

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Vestis's payout ratio is presently 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.