Bardin Hill Management Partners LP Takes $2.62 Million Position in Vestis Co. (NYSE:VSTS)

Bardin Hill Management Partners LP acquired a new stake in Vestis Co. (NYSE:VSTS) in the third quarter, Holdings Channel.com reports. The firm acquired 175,867 shares of the company’s stock, valued at approximately $2,620,000. Vestis comprises 1.2% of Bardin Hill Management Partners LP’s portfolio, making the stock its 20th biggest position.

Several other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in Vestis by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock valued at $808,000 after purchasing an additional 1,000 shares during the period. KBC Group NV boosted its stake in Vestis by 51.9% during the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after buying an additional 1,619 shares during the period. Brooklyn Investment Group purchased a new position in Vestis during the third quarter worth about $27,000. Crossmark Global Holdings Inc. grew its position in Vestis by 9.6% during the second quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after buying an additional 1,900 shares in the last quarter. Finally, Everence Capital Management Inc. increased its stake in Vestis by 17.5% in the 3rd quarter. Everence Capital Management Inc. now owns 14,210 shares of the company’s stock worth $212,000 after acquiring an additional 2,120 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

Vestis stock opened at $16.08 on Monday. The firm has a fifty day simple moving average of $14.69 and a two-hundred day simple moving average of $13.49. 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 twelve month low of $8.92 and a twelve month high of $22.37. The company has a market capitalization of $2.12 billion and a PE ratio of 100.51.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is presently 87.51%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VSTS shares. JPMorgan Chase & Co. boosted their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group boosted 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 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 report on Thursday, August 8th. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.91.

Vestis 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.