Birnam Oak Advisors LP Acquires Shares of 1,407,240 Vestis Co. (NYSE:VSTS)

Birnam Oak Advisors LP purchased a new position in Vestis Co. (NYSE:VSTS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,407,240 shares of the company’s stock, valued at approximately $21,446,000. Vestis comprises 10.4% of Birnam Oak Advisors LP’s investment portfolio, making the stock its 2nd biggest position. Birnam Oak Advisors LP owned 1.07% of Vestis as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of VSTS. Brooklyn Investment Group purchased a new stake in shares of Vestis during the third quarter worth about $27,000. Spire Wealth Management bought a new stake in shares of Vestis during the 4th quarter worth approximately $29,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,020 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after acquiring an additional 2,123 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Vestis during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analysts Set New Price Targets

VSTS has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Vestis from $15.00 to $16.00 and gave the company 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 research report on Friday, November 22nd. Finally, The Goldman Sachs Group decreased their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.68.

Vestis Stock Up 1.9 %

Shares of NYSE VSTS opened at $11.02 on Tuesday. The stock has a market cap of $1.45 billion, a P/E ratio of 137.70 and a beta of 1.40. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $19.76. The business’s fifty day simple moving average is $13.87 and its 200-day simple moving average is $14.64.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter last year, the business earned $0.22 EPS. As a group, equities analysts predict that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.27%. Vestis’s dividend payout ratio is currently 175.00%.

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.