HighTower Advisors LLC Buys 249,479 Shares of Vestis Co. (NYSE:VSTS)

HighTower Advisors LLC increased its position in Vestis Co. (NYSE:VSTS) by 223.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 361,348 shares of the company’s stock after acquiring an additional 249,479 shares during the quarter. HighTower Advisors LLC’s holdings in Vestis were worth $5,386,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Vestis in the 3rd quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in shares of Vestis in the third quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vestis in the third quarter worth $51,000. Canada Pension Plan Investment Board bought a new stake in Vestis during the second quarter valued at $44,000. Finally, GAMMA Investing LLC grew its position in Vestis by 143.5% during the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after buying an additional 2,334 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their target price on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, 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 note 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.91.

Vestis Stock Up 2.0 %

Shares of NYSE VSTS opened at $16.62 on Wednesday. The stock has a market capitalization of $2.19 billion, a P/E ratio of 103.88 and a beta of 1.15. Vestis Co. has a one year low of $8.92 and a one year high of $22.37. The firm’s 50 day simple moving average is $14.85 and its two-hundred day simple moving average is $13.68. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36.

Vestis (NYSE:VSTS) last released its earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business 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 quarterly revenue was down 4.4% on a year-over-year basis. As a group, analysts expect that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be issued a $0.035 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.84%. Vestis’s dividend payout ratio is currently 87.51%.

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.