Captrust Financial Advisors Purchases 13,471 Shares of Vestis Co. (NYSE:VSTS)

On December 17, 2024, it was reported that Captrust Financial Advisors has made a new investment in Vestis Co. (NYSE:VSTS) during the third quarter of the fiscal year. According to their latest filing with the Securities and Exchange Commission, the advisory firm acquired 13,471 shares of Vestis, amounting to a total investment of approximately $201,000.

In addition to Captrust, a number of other institutional investors and hedge funds have recently adjusted their holdings in Vestis. For instance, AQR Capital Management LLC significantly increased its stake in the company by 223.0% during the second quarter, now owning 3,753,889 shares valued at $45,197,000 after acquiring an additional 2,591,593 shares. Furthermore, Charles Schwab Investment Management Inc. raised its position by 9.8% in the third quarter, currently holding 2,156,811 shares worth $32,136,000, following the purchase of 192,525 shares. Dimensional Fund Advisors LP slightly increased its stake by 0.6% in the second quarter, owning 1,541,710 shares valued at $18,854,000 after adding 8,997 shares. Other firms like Forest Avenue Capital Management LP and Granite Investment Partners LLC have also recently purchased new positions in Vestis, valued at approximately $19,486,000 and $13,752,000 respectively. Collectively, institutional investors hold a substantial 97.40% of Vestis's stock.

Recent Analyst Price Targets

Several analysts from major investment firms have issued updated reports and price targets for Vestis. The Goldman Sachs Group raised its target price from $13.60 to $15.00 while maintaining a “neutral” rating for the company as of November 22nd. Barclays also increased its price target from $10.00 to $13.00, giving the stock an “underweight” rating. Lastly, JPMorgan Chase & Co. adjusted their price target upwards from $15.00 to $16.00 while reiterating a “neutral” rating. Currently, one research analyst has assigned a sell rating, seven have designated a hold rating, and one has issued a buy rating for Vestis. According to data from MarketBeat, the stock holds a consensus rating of “Hold” and a consensus price target of $15.73.

Current Price Trends

The shares of Vestis (NYSE:VSTS) opened at $16.35 on Tuesday. The company's 50-day moving average price is $14.94, while its 200-day moving average price stands at $13.78. Vestis has a market capitalization of $2.15 billion, a P/E ratio of 102.19, and a beta of 1.17. Over the past year, the stock has seen a low of $8.92 and a high of $22.37. It also has a quick ratio of 1.36, a current ratio of 1.73, and a debt-to-equity ratio of 1.40.

Recently, Vestis reported its earnings on November 21st, where it announced earnings per share (EPS) of $0.11, which was below analysts’ expectations of $0.13. Revenue for the quarter was $684.28 million, falling short of the anticipated $693.54 million. The company registered a net margin of 0.75% and a return on equity of 9.07%, with quarterly revenue declining by 4.4% compared to the same period last year. Analysts predict that Vestis will report an EPS of 0.66 for the current year.

Dividend Declaration

Aside from its investment activities, Vestis recently announced a quarterly dividend scheduled to be paid on January 6th. Shareholders who were on record as of December 13th will receive a dividend of $0.035, translating to an annualized dividend of $0.14 and a yield of 0.86%. The ex-dividend date was recorded as December 13th, and Vestis currently has a payout ratio of 87.50%.

About Vestis Co.

Vestis Corporation offers uniform rental services and workplace supplies in both the United States and Canada. Their product range includes various uniform choices such as shirts, pants, outerwear, gowns, scrubs, high-visibility garments, particulate-free garments, and flame-resistant options, alongside shoes and accessories. They also provide workplace supplies that encompass managed restroom supply services, first-aid and safety products, floor mats, towels, and linens.

Captrust, Investment, Stocks