Walleye Capital LLC Makes New $1.66 Million Investment in Vestis Co. (NYSE:VSTS)

Walleye Capital LLC acquired a new position in Vestis Co. (NYSE:VSTS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 111,049 shares of the company’s stock, valued at approximately $1,655,000.

Several other hedge funds and other institutional investors also recently modified their holdings of VSTS. AQR Capital Management LLC raised its position in shares of Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after purchasing an additional 2,591,593 shares during the period. Forest Avenue Capital Management LP bought a new stake in shares of Vestis in the third quarter valued at approximately $19,486,000. Granite Investment Partners LLC bought a new stake in shares of Vestis in the second quarter valued at approximately $13,752,000. Assenagon Asset Management S.A. raised its position in shares of Vestis by 99.6% in the third quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company’s stock valued at $12,287,000 after purchasing an additional 411,466 shares during the period. Finally, Stanley Capital Management LLC raised its position in shares of Vestis by 524.2% in the second quarter. Stanley Capital Management LLC now owns 476,300 shares of the company’s stock valued at $5,825,000 after purchasing an additional 400,000 shares during the period. Institutional investors own 97.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. The Goldman Sachs Group upped their target price on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, August 8th. Finally, Barclays upped their target price on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.91.

Vestis Price Performance

VSTS stock opened at $16.36 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. Vestis Co. has a one year low of $8.92 and a one year high of $22.37. The stock has a market cap of $2.15 billion, a PE ratio of 102.25 and a beta of 1.17. The firm has a 50 day simple moving average of $14.74 and a two-hundred day simple moving average of $13.56.

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

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders 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 dividend yield of 0.86%. Vestis’s dividend payout ratio (DPR) is 87.50%.

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.