Holocene Advisors LP Trims Stock Position in Vestis Co. (NYSE:VSTS)

Holocene Advisors LP lessened its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 31.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 118,633 shares of the company's stock after selling 54,706 shares during the period. Holocene Advisors LP owned approximately 0.09% of Vestis worth $1,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VSTS. Louisiana State Employees Retirement System raised its stake in shares of Vestis by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company's stock valued at $808,000 after acquiring an additional 1,000 shares during the period. KBC Group NV raised its position in Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company's stock worth $71,000 after purchasing an additional 1,619 shares during the period. Brooklyn Investment Group bought a new stake in Vestis in the third quarter worth about $27,000. Crossmark Global Holdings Inc. lifted its stake in Vestis by 9.6% in the second quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company's stock worth $266,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Everence Capital Management Inc. boosted its position in shares of Vestis by 17.5% during the third quarter. Everence Capital Management Inc. now owns 14,210 shares of the company's stock valued at $212,000 after buying an additional 2,120 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Stock Up 0.2 %

Shares of VSTS traded up $0.03 during midday trading on Friday, reaching $16.33. 1,329,404 shares of the stock were exchanged, compared to its average volume of 1,779,889. The company has a market capitalization of $2.15 billion, a P/E ratio of 102.07 and a beta of 1.17. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The company's 50 day moving average is $14.78 and its two-hundred day moving average is $13.61.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The business had revenue of $684.28 million for the quarter, compared to the consensus estimate of $693.54 million. The company's revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.86%. Vestis's dividend payout ratio (DPR) is presently 87.51%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VSTS. Barclays increased their price target on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lifted their target price on Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Vestis presently has a consensus rating of "Hold" and a consensus target price of $16.91.

About Vestis

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.