Sasco Capital Inc. CT Sells 244,475 Shares of Vestis Co. (NYSE:VSTS)

Sasco Capital Inc. CT reduced its holdings in shares of Vestis Co. (NYSE:VSTS) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,447,195 shares of the company’s stock after selling 244,475 shares during the quarter. Vestis accounts for 3.2% of Sasco Capital Inc. CT’s portfolio, making the stock its 12th biggest holding. Sasco Capital Inc. CT owned about 1.10% of Vestis worth $21,563,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after purchasing an additional 2,591,593 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in Vestis in the 2nd quarter worth $13,752,000. Bayberry Capital Partners LP purchased a new position in Vestis during the 1st quarter valued at approximately $16,380,000. Assenagon Asset Management S.A. raised its stake in Vestis by 99.6% during the third quarter. Assenagon Asset Management S.A. now owns 824,649 shares of the company’s stock valued at $12,287,000 after purchasing an additional 411,466 shares in the last quarter. Finally, Stanley Capital Management LLC lifted its holdings in shares of Vestis by 524.2% in the 2nd quarter. Stanley Capital Management LLC now owns 476,300 shares of the company’s stock valued at $5,825,000 after acquiring an additional 400,000 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Down 2.7 %

Vestis stock opened at $13.48 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67. The business’s 50-day moving average price is $14.64 and its 200 day moving average price is $13.19. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37.

Analyst Ratings Changes

A number of research firms recently commented on VSTS. The Goldman Sachs Group lifted their price target on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, August 8th. Finally, Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.69.

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.