Algert Global LLC Acquires 76,940 Shares of Vestis Co. (NYSE:VSTS)

Algert Global LLC lifted its holdings in shares of Vestis Co. (NYSE:VSTS) by 38.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,735 shares of the company’s stock after buying an additional 76,940 shares during the period. Algert Global LLC owned approximately 0.21% of Vestis worth $4,108,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings 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 valued at $45,197,000 after acquiring an additional 2,591,593 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in Vestis in the second quarter worth approximately $13,752,000. Assenagon Asset Management S.A. grew its position in Vestis by 99.6% in the 3rd 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 during the period. Stanley Capital Management LLC raised its stake in Vestis by 524.2% during the 2nd quarter. Stanley Capital Management LLC now owns 476,300 shares of the company’s stock valued at $5,825,000 after buying an additional 400,000 shares during the last quarter. Finally, Annex Advisory Services LLC bought a new position in shares of Vestis during the 2nd quarter valued at $3,130,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Trading Up 2.6 %

Shares of Vestis stock opened at $16.02 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. The company has a fifty day moving average of $14.60 and a 200 day moving average of $13.33. The company has a market capitalization of $2.11 billion and a P/E ratio of 100.13. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s dividend payout ratio is currently 87.51%.

Wall Street Analyst Weigh In

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

Vestis Company 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.