KBC Group NV Increases Stock Position in Vestis Co. (NYSE:VSTS)

KBC Group NV increased its position in shares of Vestis Co. (NYSE:VSTS) by 51.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,741 shares of the company’s stock after buying an additional 1,619 shares during the period. KBC Group NV’s holdings in Vestis were worth $71,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSTS. Capital Performance Advisors LLP purchased a new stake in shares of Vestis during the third quarter worth about $41,000. Canada Pension Plan Investment Board acquired a new stake in Vestis during the 2nd quarter valued at approximately $44,000. GAMMA Investing LLC increased its holdings in Vestis by 143.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after purchasing an additional 2,334 shares during the last quarter. Copeland Capital Management LLC acquired a new position in shares of Vestis in the 3rd quarter valued at approximately $60,000. Finally, nVerses Capital LLC purchased a new position in shares of Vestis during the 2nd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VSTS shares. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Thursday, August 8th. Barclays lifted their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, The Goldman Sachs Group upped their price objective on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.43.

Vestis Trading Up 2.6 %

Shares of NYSE VSTS opened at $16.02 on Friday. 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’s 50-day moving average price is $14.58 and its two-hundred day moving average price is $13.26. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th.

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.