Amalgamated Bank Sells 21,813 Shares of Vestis Co. (NYSE:VSTS)

Amalgamated Bank cut its holdings in Vestis Co. (NYSE:VSTS) by 37.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,518 shares of the company’s stock after selling 21,813 shares during the period. Amalgamated Bank’s holdings in Vestis were worth $544,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. US Bancorp DE increased its stake in shares of Vestis by 11.9% in the third quarter. US Bancorp DE now owns 31,939 shares of the company’s stock worth $476,000 after purchasing an additional 3,386 shares during the period. Pallas Capital Advisors LLC increased its stake in shares of Vestis by 15.7% in the third quarter. Pallas Capital Advisors LLC now owns 23,581 shares of the company’s stock worth $337,000 after purchasing an additional 3,197 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Vestis by 201.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 43,952 shares of the company’s stock worth $655,000 after buying an additional 29,389 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Vestis by 99.6% during the third quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company’s stock worth $12,287,000 after buying an additional 411,466 shares in the last quarter. Finally, Riverwater Partners LLC acquired a new stake in Vestis during the third quarter worth about $1,255,000. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Vestis presently has a consensus rating of “Hold” and an average price target of $16.69.

Vestis Price Performance

Shares of VSTS opened at $13.86 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02. Vestis Co. has a one year low of $8.92 and a one year high of $22.37. The business’s 50 day simple moving average is $14.64 and its 200-day simple moving average is $13.27.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, September 13th.

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.