CenterBook Partners LP Sells 155,074 Shares of Vestis Co. (NYSE:VSTS)

CenterBook Partners LP decreased its position in shares of Vestis Co. (NYSE:VSTS) by 74.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,022 shares of the company’s stock after selling 155,074 shares during the period. CenterBook Partners LP’s holdings in Vestis were worth $793,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VSTS. Pacer Advisors Inc. purchased a new stake in shares of Vestis in the fourth quarter worth $210,766,000. Birnam Oak Advisors LP bought a new position in Vestis in the 4th quarter worth $21,446,000. Charles Schwab Investment Management Inc. increased its stake in Vestis by 17.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company’s stock worth $38,693,000 after buying an additional 382,071 shares in the last quarter. Royce & Associates LP raised its holdings in Vestis by 39.2% during the fourth quarter. Royce & Associates LP now owns 959,830 shares of the company’s stock valued at $14,628,000 after acquiring an additional 270,441 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Vestis by 20.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company’s stock valued at $16,717,000 after acquiring an additional 188,661 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

VSTS has been the subject of several research analyst reports. Barclays cut their target price on Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group reduced their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Robert W. Baird dropped their target price on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.08.

Vestis Stock Down 0.4 %

NYSE VSTS opened at $7.86 on Friday. The stock has a 50 day moving average price of $11.12 and a 200-day moving average price of $13.83. Vestis Co. has a one year low of $7.37 and a one year high of $19.39. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company has a market capitalization of $1.03 billion, a P/E ratio of 98.20 and a beta of 1.55.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the company earned $0.22 earnings per share. As a group, equities analysts predict that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were paid a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.78%. Vestis’s payout ratio is currently 175.00%.

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.