Vestis Co. (NYSE:VSTS) Shares Sold by Samlyn Capital LLC

Samlyn Capital LLC lowered its holdings in Vestis Co. (NYSE:VSTS) by 59.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 701,962 shares of the company’s stock after selling 1,010,517 shares during the period. Samlyn Capital LLC owned about 0.53% of Vestis worth $8,585,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in VSTS. Vanguard Group Inc. purchased a new position in shares of Vestis in the fourth quarter worth approximately $302,586,000. Capital International Investors purchased a new position in shares of Vestis in the fourth quarter worth approximately $125,586,000. Wellington Management Group LLP purchased a new position in shares of Vestis in the fourth quarter worth approximately $56,431,000. Norges Bank purchased a new position in shares of Vestis in the fourth quarter worth approximately $31,033,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Vestis during the fourth quarter worth approximately $30,157,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Down 1.8 %

NYSE VSTS opened at $15.43 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. The company has a 50 day moving average price of $13.57 and a two-hundred day moving average price of $14.34. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The business had revenue of $698.20 million during the quarter, compared to analysts’ expectations of $688.33 million. Vestis’s revenue was down 1.6% compared to the same quarter last year. Research analysts predict that Vestis Co. will post 0.64 EPS for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, September 13th.

Wall Street Analysts Forecast Growth

Several analysts recently commented on VSTS shares. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th. The Goldman Sachs Group raised their price target on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. William Blair started coverage on shares of Vestis in a report on Friday, May 31st. They set a “market perform” rating for the company. Finally, Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.69.

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.