Algert Global LLC Grows Holdings in Vestis Co. (NYSE:VSTS)

Algert Global LLC grew its stake in shares of Vestis Co. (NYSE:VSTS) by 38.7% in the third quarter, Holdings Channel reports. The firm owned 275,735 shares of the company’s stock after acquiring an additional 76,940 shares during the period. Algert Global LLC’s holdings in Vestis were worth $4,108,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Vestis by 223.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after buying an additional 2,591,593 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Vestis in the second quarter valued at approximately $13,752,000. Assenagon Asset Management S.A. grew its stake in Vestis by 99.6% in the third quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company’s stock worth $12,287,000 after purchasing an additional 411,466 shares in the last quarter. Stanley Capital Management LLC increased its holdings in Vestis by 524.2% during the 2nd quarter. Stanley Capital Management LLC now owns 476,300 shares of the company’s stock worth $5,825,000 after purchasing an additional 400,000 shares during the period. Finally, Annex Advisory Services LLC bought a new stake in Vestis during the 2nd quarter valued at $3,130,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Price Performance

NYSE VSTS opened at $16.02 on Monday. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The firm’s fifty day simple moving average is $14.60 and its two-hundred day simple moving average is $13.33. 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 firm has a market capitalization of $2.11 billion and a P/E ratio of 100.13.

Vestis Dividend Announcement

The firm 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 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s dividend payout ratio is presently 87.51%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VSTS shares. JPMorgan Chase & Co. raised their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th. The Goldman Sachs Group upped 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. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays increased their target price on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Vestis has an average rating of “Hold” and a consensus price target of $17.43.

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.