Vestis Co. (NYSE:VSTS) Shares Sold by Liontrust Investment Partners LLP

Liontrust Investment Partners LLP lowered its position in shares of Vestis Co. (NYSE:VSTS) by 72.5% during the second quarter, Holdings Channel reports. The firm owned 31,838 shares of the company’s stock after selling 83,995 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Vestis were worth $389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new stake in Vestis in the 4th quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new position in Vestis during the 4th quarter worth $34,000. Wahed Invest LLC acquired a new position in Vestis in the fourth quarter valued at $42,000. TFO Wealth Partners LLC purchased a new stake in shares of Vestis in the fourth quarter valued at about $42,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Vestis in the fourth quarter valued at about $65,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Price Performance

VSTS opened at $13.72 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The business has a 50 day simple moving average of $12.47 and a 200-day simple moving average of $14.98.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. The firm 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% compared to the same quarter last year. On average, research analysts anticipate that Vestis Co. will post 0.64 EPS for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 13th.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on VSTS shares. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $11.00 in a report on Friday, May 3rd. Barclays decreased their price objective on Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, August 8th. Redburn Atlantic cut Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price target for the company. in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group lifted their price objective 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. One equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.69.

Vestis Company 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.