Brooklyn Investment Group Invests $27,000 in Vestis Co. (NYSE:VSTS)

Brooklyn Investment Group acquired a new stake in Vestis Co. (NYSE:VSTS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,827 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VSTS. LMR Partners LLP raised its holdings in shares of Vestis by 726.8% during the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after buying an additional 141,113 shares during the last quarter. Private Management Group Inc. raised its stake in Vestis by 9.2% during the 2nd quarter. Private Management Group Inc. now owns 692,394 shares of the company’s stock valued at $8,468,000 after acquiring an additional 58,538 shares in the last quarter. Royce & Associates LP boosted its position in Vestis by 10.7% during the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after acquiring an additional 66,621 shares during the period. Comerica Bank grew its stake in shares of Vestis by 39.8% in the first quarter. Comerica Bank now owns 168,552 shares of the company’s stock worth $3,248,000 after purchasing an additional 47,996 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Vestis during the second quarter valued at $1,627,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Performance

VSTS opened at $16.08 on Friday. 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 firm has a market cap of $2.12 billion and a PE ratio of 100.50. The business has a fifty day simple moving average of $14.69 and a 200-day simple moving average of $13.48. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

Vestis Dividend Announcement

The business also recently declared 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 is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.87%. Vestis’s dividend payout ratio is currently 87.50%.

Wall Street Analysts Forecast Growth

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

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.