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

Boussard & Gavaudan Investment Management LLP bought a new position in shares of Vestis Co. (NYSE:VSTS) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 379,628 shares of the company’s stock, valued at approximately $5,674,000. Boussard & Gavaudan Investment Management LLP owned approximately 0.29% of Vestis at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Vestis during the 3rd quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in shares of Vestis in the 3rd quarter valued at about $41,000. Canada Pension Plan Investment Board bought a new position in shares of Vestis in the 2nd quarter valued at about $44,000. GAMMA Investing LLC grew its holdings in shares of Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after acquiring an additional 2,334 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of Vestis in the 3rd quarter valued at about $60,000. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays lifted their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their price target on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Vestis currently has a consensus rating of “Hold” and an average target price of $17.43.

Vestis Stock Down 0.9 %

NYSE VSTS opened at $16.18 on Thursday. The company has a 50 day moving average of $14.67 and a 200-day moving average of $13.43. The company has a market cap of $2.13 billion and a price-to-earnings ratio of 101.13. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. Vestis Co. has a 1-year low of $8.92 and a 1-year high of $22.37.

Vestis Announces Dividend

The company also recently disclosed 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 of this dividend 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 (DPR) is 87.51%.

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.