Wedge Capital Management L L P NC Sells 17,527 Shares of Vestis Co. (NYSE:VSTS)

Wedge Capital Management L L P NC lessened its position in Vestis Co. (NYSE:VSTS) by 17.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 84,966 shares of the company’s stock after selling 17,527 shares during the period. Wedge Capital Management L L P NC’s holdings in Vestis were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its position in Vestis by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock worth $808,000 after purchasing an additional 1,000 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Vestis by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after purchasing an additional 1,900 shares during the last quarter. Texas Permanent School Fund Corp grew its position in Vestis by 1.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 115,037 shares of the company’s stock worth $2,217,000 after purchasing an additional 2,124 shares during the last quarter. GAMMA Investing LLC grew its position in Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after purchasing an additional 2,334 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Vestis by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 120,230 shares of the company’s stock worth $2,317,000 after purchasing an additional 2,686 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research 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 research report on Tuesday, August 20th. Finally, Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.69.

Vestis Stock Up 0.5 %

NYSE:VSTS opened at $15.11 on Thursday. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. The company’s 50-day moving average price is $14.38 and its two-hundred day moving average price is $13.96.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $698.20 million for the quarter, compared to analyst estimates of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts predict that Vestis Co. will post 0.64 EPS for the current year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were given a $0.035 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.93%.

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.