Captrust Financial Advisors Buys Shares of 13,471 Vestis Co. (NYSE:VSTS)

Captrust Financial Advisors bought a new stake in Vestis Co. (NYSE:VSTS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 13,471 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after purchasing an additional 2,591,593 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Vestis by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock valued at $32,136,000 after purchasing an additional 192,525 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Vestis by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock valued at $18,854,000 after purchasing an additional 8,997 shares during the last quarter. Forest Avenue Capital Management LP purchased a new position in Vestis in the third quarter valued at about $19,486,000. Finally, Granite Investment Partners LLC purchased a new position in Vestis in the second quarter valued at about $13,752,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their target price on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays boosted their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Vestis presently has a consensus rating of “Hold” and a consensus price target of $15.73.

Vestis Price Performance

Shares of NYSE VSTS opened at $16.35 on Tuesday. The business’s 50 day moving average price is $14.94 and its 200 day moving average price is $13.78. The firm has a market cap of $2.15 billion, a P/E ratio of 102.19 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 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) last issued its earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $684.28 million during the quarter, compared to analysts’ expectations of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts expect that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Announces Dividend

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 87.50%.

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.