Vestis Co. (NYSE:VSTS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in shares of Vestis Co. (NYSE:VSTS) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 540,049 shares of the company’s stock after selling 105,273 shares during the quarter. Principal Financial Group Inc. owned approximately 0.41% of Vestis worth $8,047,000 as of its most recent filing with the SEC.

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

Vestis Stock Performance

Shares of Vestis stock opened at $13.41 on Wednesday. The business’s fifty day moving average price is $14.62 and its 200 day moving average price is $13.22. Vestis Co. has a twelve month low of $8.92 and a twelve month high of $22.37. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67.

Wall Street Analyst Weigh In

Several analysts have weighed in on VSTS shares. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective 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 cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.