Bardin Hill Management Partners LP Buys New Position in Vestis Co. (NYSE:VSTS)

Bardin Hill Management Partners LP purchased a new stake in Vestis Co. (NYSE:VSTS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 175,867 shares of the company’s stock, valued at approximately $2,620,000. Vestis comprises about 1.2% of Bardin Hill Management Partners LP’s holdings, making the stock its 20th biggest holding. Bardin Hill Management Partners LP owned approximately 0.13% of Vestis as of its most recent SEC filing.

Several other large investors have also bought and sold shares of VSTS. Brooklyn Investment Group purchased a new stake in shares of Vestis in the third quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in Vestis in the 3rd quarter worth about $41,000. Canada Pension Plan Investment Board purchased a new stake in Vestis in the 2nd quarter valued at about $44,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vestis during the 3rd quarter worth approximately $51,000. Finally, GAMMA Investing LLC boosted its stake in shares of Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after buying an additional 2,334 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Price Performance

NYSE VSTS opened at $16.08 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The company has a market cap of $2.12 billion and a PE ratio of 100.51. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The firm’s 50-day simple moving average is $14.69 and its two-hundred day simple moving average is $13.49.

Vestis Announces Dividend

The firm also recently disclosed 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. This represents a $0.14 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is presently 87.51%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Thursday, August 8th. Barclays increased their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. Finally, 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, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.