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

Captrust Financial Advisors purchased a new stake in Vestis Co. (NYSE:VSTS) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 13,471 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in shares of Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after buying an additional 2,591,593 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Vestis by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock worth $32,136,000 after buying an additional 192,525 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock worth $18,854,000 after buying an additional 8,997 shares during the period. Forest Avenue Capital Management LP acquired a new position in shares of Vestis during the 3rd quarter worth approximately $19,486,000. Finally, Granite Investment Partners LLC acquired a new position in shares of Vestis during the 2nd quarter worth approximately $13,752,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Up 1.9 %

Shares of NYSE:VSTS opened at $16.35 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The business has a fifty day moving average of $14.94 and a two-hundred day moving average of $13.78. The stock 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.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The business had revenue of $684.28 million for the quarter, compared to analysts’ expectations of $693.54 million. Vestis had a return on equity of 9.07% and a net margin of 0.75%. The company’s revenue was down 4.4% on a year-over-year basis. On average, research analysts expect that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio is presently 87.50%.

Analysts Set New Price Targets

Several research analysts recently commented on VSTS shares. The Goldman Sachs Group increased their price objective on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Vestis from $15.00 to $16.00 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 company an “underweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.73.

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.