Y Intercept Hong Kong Ltd Sells 34,734 Shares of Vestis Co. (NYSE:VSTS)

Y Intercept Hong Kong Ltd reduced its position in Vestis Co. (NYSE:VSTS) by 70.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,806 shares of the company’s stock after selling 34,734 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Vestis were worth $221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in Vestis in the third quarter valued at approximately $1,232,000. Quantinno Capital Management LP bought a new position in shares of Vestis in the 3rd quarter valued at $164,000. Quarry LP increased its stake in shares of Vestis by 1,881.2% in the 3rd quarter. Quarry LP now owns 129,888 shares of the company’s stock valued at $1,935,000 after purchasing an additional 123,332 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Vestis during the 3rd quarter worth $233,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Vestis by 19.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 255,029 shares of the company’s stock worth $3,800,000 after buying an additional 41,833 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Price Performance

Shares of NYSE:VSTS opened at $15.72 on Thursday. The firm has a market cap of $2.07 billion, a PE ratio of 98.26 and a beta of 1.17. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The firm’s fifty day moving average is $15.02 and its 200-day moving average is $13.85. 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 (NYSE:VSTS) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $693.54 million. The company’s revenue was down 4.4% on a year-over-year basis. Sell-side analysts predict that Vestis Co. will post 0.66 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.89%. Vestis’s payout ratio is 87.50%.

Analyst Upgrades and Downgrades

Several research analysts have commented on VSTS shares. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group upped their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Barclays raised their target price on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.73.

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.