Squarepoint Ops LLC Has $1.79 Million Stake in Vestis Co. (NYSE:VSTS)

Squarepoint Ops LLC lowered its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 48.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,169 shares of the company's stock after selling 139,224 shares during the quarter. Squarepoint Ops LLC owned 0.11% of Vestis worth $1,788,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. TFO Wealth Partners LLC purchased a new position in Vestis during the 4th quarter valued at about $42,000. Wahed Invest LLC acquired a new position in Vestis in the 4th quarter valued at approximately $42,000. Canada Pension Plan Investment Board bought a new position in Vestis in the second quarter worth $44,000. nVerses Capital LLC bought a new position in shares of Vestis during the 2nd quarter worth about $61,000. Finally, PNC Financial Services Group Inc. acquired a new stake in Vestis during the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Price Performance

Shares of VSTS stock traded up $0.28 on Friday, hitting $14.80. 6,894,798 shares of the stock were exchanged, compared to its average volume of 2,266,476. The business has a 50-day moving average of $14.03 and a 200 day moving average of $14.19. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. The firm had revenue of $698.20 million for the quarter, compared to analyst estimates of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. Vestis's revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that Vestis Co. will post 0.64 EPS for the current year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, September 13th.

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group increased their target price on Vestis from $12.50 to $13.80 and gave the stock a "neutral" rating in a 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 on the stock. in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock 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.