BBR Partners LLC Purchases New Position in Vestis Co. (NYSE:VSTS)

BBR Partners LLC acquired a new stake in Vestis Co. (NYSE:VSTS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $183,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VSTS. Russell Investments Group Ltd. bought a new stake in shares of Vestis during the fourth quarter worth $3,091,000. Swiss National Bank acquired a new stake in shares of Vestis during the 4th quarter valued at $5,447,000. Amalgamated Bank bought a new stake in Vestis during the 4th quarter worth $1,288,000. Charles Schwab Investment Management Inc. acquired a new position in Vestis in the 4th quarter worth about $19,377,000. Finally, Teacher Retirement System of Texas bought a new position in Vestis in the fourth quarter valued at about $962,000. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

VSTS has been the topic of several research reports. The Goldman Sachs Group boosted their price target on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a research report on Thursday, August 8th. Finally, William Blair began coverage on shares of Vestis in a report on Friday, May 31st. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.69.

Vestis Stock Down 5.6 %

Shares of NYSE VSTS opened at $14.44 on Friday. The company’s 50 day moving average price is $12.84 and its 200-day moving average price is $14.72. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The company has a market capitalization of $1.90 billion and a P/E ratio of 17.83.

Vestis (NYSE:VSTS) last released its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The business had revenue of $698.20 million for the quarter, compared to analyst estimates of $688.33 million. The company’s revenue was down 1.6% on a year-over-year basis. Equities analysts forecast that Vestis Co. will post 0.64 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, September 13th. This represents a $0.14 annualized dividend and a yield of 0.97%. Vestis’s dividend payout ratio is currently 17.28%.

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.