BBR Partners LLC Buys New Shares in Vestis Co. (NYSE:VSTS)

BBR Partners LLC purchased a new position in shares of Vestis Co. (NYSE:VSTS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the company’s stock, valued at approximately $183,000.

A number of other large investors have also recently added to or reduced their stakes in VSTS. Russell Investments Group Ltd. acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $3,091,000. Swiss National Bank acquired a new position in shares of Vestis in the fourth quarter valued at $5,447,000. Amalgamated Bank bought a new position in shares of Vestis in the fourth quarter valued at about $1,288,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Vestis during the 4th quarter worth about $19,377,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Vestis during the 4th quarter worth about $962,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Down 5.6 %

VSTS stock opened at $14.44 on Friday. The company has a market cap of $1.90 billion and a PE ratio of 17.83. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The business has a 50-day simple moving average of $12.84 and a 200 day simple moving average of $14.72.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The company had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Vestis Co. will post 0.64 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, September 13th. Vestis’s dividend payout ratio is presently 17.28%.

Analysts Set New Price Targets

VSTS has been the topic of several research analyst reports. William Blair assumed coverage on shares of Vestis in a report on Friday, May 31st. They issued a “market perform” rating on the stock. Robert W. Baird cut 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. Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their target price on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Vestis presently has an average rating of “Hold” and a consensus price target of $16.69.

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.