Victory Capital Management Inc. Grows Position in Vestis Co. (NYSE:VSTS)

Victory Capital Management Inc. lifted its stake in Vestis Co. (NYSE:VSTS) by 12.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 63,551 shares of the company’s stock after buying an additional 6,916 shares during the quarter. Victory Capital Management Inc.’s holdings in Vestis were worth $947,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Vestis in the third quarter worth $41,000. Canada Pension Plan Investment Board bought a new stake in Vestis in the second quarter worth $44,000. GAMMA Investing LLC increased its position in Vestis by 143.5% in the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after purchasing an additional 2,334 shares during the last quarter. Copeland Capital Management LLC bought a new stake in Vestis in the third quarter worth $60,000. Finally, nVerses Capital LLC bought a new stake in Vestis in the second quarter worth $61,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target 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. The Goldman Sachs Group boosted their price target 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. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Thursday, August 8th. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.43.

Vestis Trading Down 0.9 %

Shares of VSTS opened at $16.18 on Thursday. Vestis Co. has a twelve month low of $8.92 and a twelve month high of $22.37. The company has a market cap of $2.13 billion and a P/E ratio of 101.13. 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’s fifty day simple moving average is $14.67 and its 200-day simple moving average is $13.43.

Vestis Dividend Announcement

The company 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 $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio is currently 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.