Clearline Capital LP Buys New Position in Vestis Co. (NYSE:VSTS)

Clearline Capital LP bought a new stake in shares of Vestis Co. (NYSE:VSTS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,267 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in Vestis during the third quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Vestis in the third quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Vestis during the third quarter valued at about $51,000. Canada Pension Plan Investment Board acquired a new position in Vestis during the second quarter worth about $44,000. Finally, GAMMA Investing LLC raised its position 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 acquiring an additional 2,334 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VSTS has been the topic of several recent research reports. 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 note on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research report on Thursday, August 8th. Finally, Barclays increased their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research 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 issued a buy rating to the company. Based on data from MarketBeat.com, Vestis has an average rating of “Hold” and a consensus price target of $16.91.

Vestis Stock Performance

Shares of VSTS stock opened at $16.08 on Monday. The stock’s fifty day simple moving average is $14.69 and its 200-day simple moving average is $13.49. The company has a market capitalization of $2.12 billion and a price-to-earnings ratio of 100.51. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders 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 annualized dividend and a yield of 0.87%. Vestis’s dividend payout ratio is presently 87.51%.

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.