Centiva Capital LP Sells 75,675 Shares of Vestis Co. (NYSE:VSTS)

Centiva Capital LP lowered its stake in Vestis Co. (NYSE:VSTS - Free Report) by 77.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,396 shares of the company's stock after selling 75,675 shares during the period. Centiva Capital LP's holdings in Vestis were worth $334,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Vestis by 223.0% during the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock valued at $45,197,000 after buying an additional 2,591,593 shares during the period. Forest Avenue Capital Management LP purchased a new position in Vestis during the 3rd quarter valued at about $19,486,000. Granite Investment Partners LLC bought a new stake in Vestis during the second quarter worth about $13,752,000. TOMS Capital Investment Management LP boosted its stake in Vestis by 22.7% during the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock worth $34,719,000 after acquiring an additional 430,555 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Vestis by 99.6% in the third quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company's stock worth $12,287,000 after purchasing an additional 411,466 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on VSTS shares. JPMorgan Chase & Co. boosted their price target on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. The Goldman Sachs Group boosted their target price on Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, Barclays increased their target price on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Vestis has a consensus rating of "Hold" and a consensus target price of $16.91.

Vestis Stock Down 1.0 %

Shares of VSTS stock traded down $0.16 during mid-day trading on Wednesday, hitting $16.46. The company's stock had a trading volume of 2,340,073 shares, compared to its average volume of 2,131,670. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 102.88 and a beta of 1.15. The business has a 50-day moving average price of $14.88 and a 200 day moving average price of $13.70.

Vestis (NYSE:VSTS - Get Free Report) last posted 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 net margin of 0.75% and a return on equity of 9.07%. The company had revenue of $684.28 million for the quarter, compared to the consensus estimate of $693.54 million. The business's quarterly revenue was down 4.4% on a year-over-year basis. Research analysts predict that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 13th. Vestis's dividend payout ratio (DPR) is presently 87.51%.

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.