Birnam Oak Advisors LP Makes New $21.45 Million Investment in Vestis Co. (NYSE:VSTS)

Birnam Oak Advisors LP acquired a new position in Vestis Co. (NYSE:VSTS) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,407,240 shares of the company’s stock, valued at approximately $21,446,000. Vestis makes up approximately 10.4% of Birnam Oak Advisors LP’s portfolio, making the stock its 2nd biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in VSTS. Royce & Associates LP grew its position in shares of Vestis by 39.2% during the 4th quarter. Royce & Associates LP now owns 959,830 shares of the company’s stock valued at $14,628,000 after buying an additional 270,441 shares during the last quarter. Swiss National Bank grew its position in shares of Vestis by 0.7% during the 4th quarter. Swiss National Bank now owns 232,750 shares of the company’s stock valued at $3,547,000 after buying an additional 1,700 shares during the last quarter. HighTower Advisors LLC grew its position in Vestis by 2.6% in the 4th quarter. HighTower Advisors LLC now owns 370,813 shares of the company’s stock worth $5,651,000 after purchasing an additional 9,465 shares during the last quarter. Raymond James Financial Inc. bought a new position in Vestis in the 4th quarter worth about $2,194,000. Finally, Proficio Capital Partners LLC bought a new position in Vestis in the 4th quarter worth about $185,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on VSTS shares. JPMorgan Chase & Co. increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.68.

Vestis Stock Up 1.9 %

VSTS stock opened at $11.02 on Tuesday. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $19.76. The firm has a market cap of $1.45 billion, a PE ratio of 137.70 and a beta of 1.40. The firm has a 50 day simple moving average of $13.87 and a 200 day simple moving average of $14.64. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the prior year, the firm posted $0.22 earnings per share. Equities research analysts forecast that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.27%. Vestis’s dividend payout ratio is presently 175.00%.

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.