Boston Partners Makes New $11.99 Million Investment in Vestis Co. (NYSE:VSTS)

Boston Partners bought a new stake in Vestis Co. (NYSE:VSTS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 566,171 shares of the company's stock, valued at approximately $11,994,000. Boston Partners owned about 0.43% of Vestis at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of VSTS. Nordea Investment Management AB acquired a new stake in Vestis in the 4th quarter worth $3,909,000. Wolverine Asset Management LLC grew its position in Vestis by 48.0% in the 4th quarter. Wolverine Asset Management LLC now owns 185,000 shares of the company's stock worth $3,911,000 after purchasing an additional 60,000 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in Vestis in the 4th quarter worth $1,697,000. Russell Investments Group Ltd. bought a new position in shares of Vestis during the 4th quarter worth about $3,091,000. Finally, Amalgamated Bank bought a new position in shares of Vestis during the 4th quarter worth about $1,288,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Redburn Atlantic downgraded shares of Vestis from a "buy" rating to a "neutral" rating and set a $13.40 price objective for the company. in a report on Tuesday, May 7th. The Goldman Sachs Group reduced their price objective on shares of Vestis from $20.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, May 6th. Robert W. Baird reduced their price objective on shares of Vestis from $24.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. Barclays reduced their price objective on shares of Vestis from $19.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, May 3rd. Finally, Stifel Nicolaus reissued a "hold" rating on shares of Vestis in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Vestis has an average rating of "Hold" and an average target price of $16.38.

Insiders Place Their Bets

In other Vestis news, major shareholder Corvex Management Lp purchased 1,828,009 shares of the stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $9.54 per share, for a total transaction of $17,439,205.86. Following the transaction, the insider now directly owns 14,973,187 shares in the company, valued at $142,844,203.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James Phillip Holloman acquired 20,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of $10.57 per share, for a total transaction of $215,628.00. Following the completion of the acquisition, the director now owns 64,532 shares in the company, valued at $682,103.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Corvex Management Lp acquired 1,828,009 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $9.54 per share, with a total value of $17,439,205.86. Following the acquisition, the insider now owns 14,973,187 shares of the company's stock, valued at approximately $142,844,203.98. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,537,025 shares of company stock valued at $24,900,408.

Vestis Trading Up 0.4 %

Shares of NYSE VSTS traded up $0.04 during trading on Thursday, reaching $12.82. The company had a trading volume of 2,339,109 shares, compared to its average volume of 2,424,776. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a current ratio of 2.51, a quick ratio of 2.16 and a debt-to-equity ratio of 1.69. The business's 50 day moving average price is $17.18 and its 200-day moving average price is $18.51.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.09). The business had revenue of $705.37 million for the quarter, compared to the consensus estimate of $722.54 million. The firm's quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Vestis Co. will post 0.58 EPS for the current year.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, March 14th.

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.