Boussard & Gavaudan Investment Management LLP Acquires New Position in Vestis Co. (NYSE:VSTS)

by · The Cerbat Gem

Boussard & Gavaudan Investment Management LLP acquired a new stake in Vestis Co. (NYSE:VSTS – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 379,628 shares of the company’s stock, valued at approximately $5,674,000.

A number of other hedge funds have also added to or reduced their stakes in VSTS. LMR Partners LLP grew its stake in shares of Vestis by 726.8% during the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock worth $2,392,000 after buying an additional 141,113 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Vestis during the first quarter worth $1,069,000. Private Management Group Inc. grew its stake in shares of Vestis by 9.2% in the second quarter. Private Management Group Inc. now owns 692,394 shares of the company’s stock worth $8,468,000 after purchasing an additional 58,538 shares during the last quarter. Royce & Associates LP grew its stake in shares of Vestis by 10.7% in the third quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after purchasing an additional 66,621 shares during the last quarter. Finally, 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 during the last quarter. 97.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on VSTS shares. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research note on Thursday, August 8th. Barclays boosted their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. The Goldman Sachs Group boosted 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. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Vestis currently has an average rating of “Hold” and a consensus price target of $17.43.

Check Out Our Latest Research Report on Vestis

Vestis Price Performance

VSTS stock opened at $16.18 on Thursday. The firm has a market cap of $2.13 billion and a price-to-earnings ratio of 101.13. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The company’s fifty day simple moving average is $14.67 and its 200 day simple moving average is $13.43.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. Vestis’s dividend payout ratio is currently 87.51%.

About Vestis

(Free Report)

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.

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