AQR Capital Management LLC Raises Stake in Vestis Co. (NYSE:VSTS)

AQR Capital Management LLC raised its holdings in shares of Vestis Co. (NYSE:VSTS) by 223.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,753,889 shares of the company’s stock after acquiring an additional 2,591,593 shares during the period. AQR Capital Management LLC owned about 2.86% of Vestis worth $45,197,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in Vestis during the 4th quarter valued at about $302,586,000. Capital International Investors bought a new stake in Vestis in the fourth quarter valued at approximately $125,586,000. Wellington Management Group LLP purchased a new stake in shares of Vestis during the fourth quarter valued at approximately $56,431,000. Dimensional Fund Advisors LP grew its holdings in shares of Vestis by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock worth $18,854,000 after purchasing an additional 8,997 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Vestis in the fourth quarter worth $31,033,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VSTS has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Vestis presently has a consensus rating of “Hold” and an average price target of $16.69.

Vestis Stock Performance

Shares of VSTS opened at $15.11 on Friday. The company has a 50-day simple moving average of $13.80 and a two-hundred day simple moving average of $14.31. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02. The firm has a market capitalization of $1.99 billion and a PE ratio of 18.89. Vestis Co. has a one year low of $8.92 and a one year high of $22.37.

Vestis (NYSE:VSTS) last released its earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The company had revenue of $698.20 million during the quarter, compared to analysts’ expectations of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The company’s revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Vestis Co. will post 0.64 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, September 13th. Vestis’s dividend payout ratio is presently 17.50%.

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.