Brooklyn Investment Group Buys Shares of 1,827 Vestis Co. (NYSE:VSTS)

Brooklyn Investment Group bought a new position in Vestis Co. (NYSE:VSTS) in the 3rd quarter, HoldingsChannel reports. The fund bought 1,827 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also modified their holdings of VSTS. Capital Performance Advisors LLP acquired a new stake in Vestis during the 3rd quarter worth about $41,000. Canada Pension Plan Investment Board acquired a new stake in shares of Vestis during the second quarter worth approximately $44,000. GAMMA Investing LLC grew its position in Vestis by 143.5% during the third quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after purchasing an additional 2,334 shares in the last quarter. Copeland Capital Management LLC acquired a new position in Vestis in the 3rd quarter valued at approximately $60,000. Finally, KBC Group NV lifted its position in Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after buying an additional 1,619 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Trading Down 0.6 %

Shares of VSTS stock opened at $16.08 on Friday. The business’s 50 day moving average is $14.69 and its two-hundred day moving average is $13.48. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a market cap of $2.12 billion and a PE ratio of 100.50.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.87%. Vestis’s payout ratio is presently 87.50%.

Analyst Upgrades and Downgrades

VSTS has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price objective on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, 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 report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.91.

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.