BBR Partners LLC Increases Stock Holdings in Vestis Co. (NYSE:VSTS)

BBR Partners LLC increased its stake in shares of Vestis Co. (NYSE:VSTS) by 333.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. BBR Partners LLC’s holdings in Vestis were worth $968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in shares of Vestis by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock valued at $808,000 after buying an additional 1,000 shares during the period. KBC Group NV lifted its stake in shares of Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after acquiring an additional 1,619 shares during the last quarter. Brooklyn Investment Group purchased a new position in Vestis during the 3rd quarter valued at $27,000. Crossmark Global Holdings Inc. grew its position in Vestis by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock valued at $266,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Everence Capital Management Inc. increased its stake in Vestis by 17.5% in the third quarter. Everence Capital Management Inc. now owns 14,210 shares of the company’s stock worth $212,000 after purchasing an additional 2,120 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VSTS. JPMorgan Chase & Co. boosted their target price on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note 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 objective for the company. in a research report on Thursday, August 8th. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays increased their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” 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 two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.43.

Vestis Price Performance

NYSE VSTS opened at $16.18 on Thursday. The company has a market cap of $2.13 billion and a PE ratio of 101.13. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. The firm’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.43.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.87%. Vestis’s dividend payout ratio (DPR) is presently 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.