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

Principal Financial Group Inc. decreased its stake in Vestis Co. (NYSE:VSTS) by 16.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 540,049 shares of the company’s stock after selling 105,273 shares during the quarter. Principal Financial Group Inc.’s holdings in Vestis were worth $8,047,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of VSTS. Sei Investments Co. boosted its holdings in Vestis by 22.7% in the 1st quarter. Sei Investments Co. now owns 115,628 shares of the company’s stock worth $2,228,000 after acquiring an additional 21,414 shares during the period. UniSuper Management Pty Ltd purchased a new position in shares of Vestis in the first quarter valued at $517,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vestis during the 1st quarter valued at $3,854,000. Natixis lifted its holdings in Vestis by 53.2% in the 1st quarter. Natixis now owns 190,000 shares of the company’s stock worth $3,661,000 after buying an additional 66,000 shares in the last quarter. Finally, Carlson Capital L P boosted its position in Vestis by 216.0% in the 1st quarter. Carlson Capital L P now owns 438,759 shares of the company’s stock valued at $8,455,000 after buying an additional 299,894 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Price Performance

NYSE VSTS opened at $13.41 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67. Vestis Co. has a one year low of $8.92 and a one year high of $22.37. The company has a 50-day simple moving average of $14.62 and a 200-day simple moving average of $13.22.

Analyst Upgrades and Downgrades

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

Vestis Company Profile

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.