Victory Capital Management Inc. Purchases 6,916 Shares of Vestis Co. (NYSE:VSTS)

Victory Capital Management Inc. raised its position in shares of Vestis Co. (NYSE:VSTS) by 12.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,551 shares of the company’s stock after purchasing an additional 6,916 shares during the quarter. Victory Capital Management Inc.’s holdings in Vestis were worth $947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new stake in Vestis during the 1st quarter valued at about $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 acquiring an additional 58,538 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 acquiring an additional 47,996 shares during the period. Seven Eight Capital LP bought a new stake in shares of Vestis in the second quarter worth approximately $1,627,000. Finally, Renaissance Technologies LLC grew its stake in shares of Vestis by 15.3% in the second quarter. Renaissance Technologies LLC now owns 453,658 shares of the company’s stock worth $5,548,000 after acquiring an additional 60,058 shares during the period. 97.40% of the stock is currently owned by institutional investors.

Vestis Price Performance

Shares of NYSE:VSTS opened at $16.18 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37. The company has a market capitalization of $2.13 billion and a P/E ratio of 101.13. The firm’s 50 day simple moving average is $14.67 and its two-hundred day simple moving average is $13.43.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. 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 is currently 87.51%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VSTS shares. Barclays lifted their price target 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. JPMorgan Chase & Co. lifted their price target 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. The Goldman Sachs Group lifted their price target 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. Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Thursday, August 8th. Finally, Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.43.

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.