Squarepoint Ops LLC Sells 139,224 Shares of Vestis Co. (NYSE:VSTS)

Squarepoint Ops LLC lowered its holdings in shares of Vestis Co. (NYSE:VSTS) by 48.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,169 shares of the company’s stock after selling 139,224 shares during the quarter. Squarepoint Ops LLC owned 0.11% of Vestis worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stanley Capital Management LLC boosted its holdings in shares of Vestis by 524.2% in the 2nd quarter. Stanley Capital Management LLC now owns 476,300 shares of the company’s stock worth $5,825,000 after purchasing an additional 400,000 shares during the period. Public Sector Pension Investment Board boosted its stake in Vestis by 7.3% during the second quarter. Public Sector Pension Investment Board now owns 289,192 shares of the company’s stock worth $3,537,000 after buying an additional 19,772 shares during the period. Delap Wealth Advisory LLC bought a new position in Vestis during the second quarter valued at $157,000. Sei Investments Co. raised its stake in shares of Vestis by 11.3% in the second quarter. Sei Investments Co. now owns 128,748 shares of the company’s stock valued at $1,575,000 after acquiring an additional 13,120 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Vestis in the 2nd quarter worth about $44,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Up 1.9 %

VSTS opened at $14.80 on Friday. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37. The stock’s fifty day moving average is $14.03 and its two-hundred day moving average is $14.19. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37.

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

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.035 per share. The ex-dividend date was Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on VSTS shares. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group raised their price target on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.