Segall Bryant & Hamill LLC Trims Holdings in Vestis Co. (NYSE:VSTS)

Segall Bryant & Hamill LLC reduced its stake in shares of Vestis Co. (NYSE:VSTS) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,131 shares of the company’s stock after selling 11,431 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.21% of Vestis worth $4,189,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Vestis during the third quarter valued at $41,000. Canada Pension Plan Investment Board purchased a new position in Vestis during the second quarter valued at approximately $44,000. GAMMA Investing LLC raised its stake in Vestis by 143.5% in the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after buying an additional 2,334 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in Vestis during the third quarter worth $60,000. Finally, KBC Group NV boosted its position in Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after acquiring an additional 1,619 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Performance

Vestis stock opened at $16.02 on Friday. The business’s 50-day simple moving average is $14.58 and its two-hundred day simple moving average is $13.26. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be issued a $0.035 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.87%.

Wall Street Analysts Forecast Growth

VSTS has been the subject of a number of analyst reports. Barclays upped their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday. The Goldman Sachs Group lifted their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday. Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Thursday, August 8th. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.43.

Vestis 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.