Y Intercept Hong Kong Ltd Has $221,000 Stock Position in Vestis Co. (NYSE:VSTS)

Y Intercept Hong Kong Ltd lessened its stake in Vestis Co. (NYSE:VSTS) by 70.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,806 shares of the company’s stock after selling 34,734 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Vestis were worth $221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Weiss Asset Management LP bought a new stake in Vestis during the third quarter worth $1,232,000. Quantinno Capital Management LP acquired a new position in shares of Vestis during the 3rd quarter worth about $164,000. Quarry LP raised its holdings in shares of Vestis by 1,881.2% in the 3rd quarter. Quarry LP now owns 129,888 shares of the company’s stock valued at $1,935,000 after purchasing an additional 123,332 shares during the period. Point72 DIFC Ltd acquired a new stake in Vestis in the 3rd quarter valued at about $233,000. Finally, Point72 Asset Management L.P. grew its holdings in Vestis by 19.6% during the third quarter. Point72 Asset Management L.P. now owns 255,029 shares of the company’s stock worth $3,800,000 after purchasing an additional 41,833 shares during the period. 97.40% of the stock is owned by institutional investors.

Vestis Stock Down 2.4 %

VSTS stock opened at $15.72 on Thursday. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 98.26 and a beta of 1.17. The business’s fifty day moving average price is $15.02 and its two-hundred day moving average price is $13.85.

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

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is currently 87.50%.

Wall Street Analyst Weigh In

Several analysts have issued reports on VSTS shares. JPMorgan Chase & Co. upped their price objective on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. The Goldman Sachs Group raised their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays upped their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Vestis currently has a consensus rating of “Hold” and a consensus price target of $15.73.

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.