Centiva Capital LP Sells 75,675 Shares of Vestis Co. (NYSE:VSTS)

Centiva Capital LP lowered its holdings in Vestis Co. (NYSE:VSTS) by 77.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,396 shares of the company’s stock after selling 75,675 shares during the quarter. Centiva Capital LP’s holdings in Vestis were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Clearline Capital LP bought a new stake in Vestis during the third quarter worth about $213,000. Bardin Hill Management Partners LP bought a new stake in Vestis during the third quarter worth about $2,620,000. TOMS Capital Investment Management LP grew its stake in Vestis by 22.7% during the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after buying an additional 430,555 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Vestis during the third quarter worth about $51,000. Finally, PDT Partners LLC grew its stake in Vestis by 2.7% during the third quarter. PDT Partners LLC now owns 104,753 shares of the company’s stock worth $1,561,000 after buying an additional 2,795 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Vestis Trading Up 2.0 %

Shares of NYSE VSTS opened at $16.62 on Wednesday. The company’s 50 day simple moving average is $14.85 and its 200 day simple moving average is $13.68. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The firm has a market capitalization of $2.19 billion, a P/E ratio of 103.88 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The business had revenue of $684.28 million during the quarter, compared to analyst estimates of $693.54 million. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, analysts predict that Vestis Co. will post 0.66 EPS for the current year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s payout ratio is presently 87.51%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays upped their target price on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group upped their target price on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.91.

Vestis 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.