Vestis Co. (NYSE:VSTS) Shares Sold by Sasco Capital Inc. CT

Sasco Capital Inc. CT lessened its position in Vestis Co. (NYSE:VSTS) by 14.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,447,195 shares of the company’s stock after selling 244,475 shares during the quarter. Vestis makes up about 3.2% of Sasco Capital Inc. CT’s portfolio, making the stock its 12th largest holding. Sasco Capital Inc. CT’s holdings in Vestis were worth $21,563,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. LMR Partners LLP lifted its stake in Vestis by 726.8% during the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock worth $2,392,000 after purchasing an additional 141,113 shares in the last quarter. Royce & Associates LP grew its position in shares of Vestis by 10.7% during the third quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after acquiring an additional 66,621 shares during the last quarter. KBC Group NV grew its position in Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after purchasing an additional 1,619 shares during the last quarter. Victory Capital Management Inc. increased its position in Vestis by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 63,551 shares of the company’s stock valued at $947,000 after acquiring an additional 6,916 shares during the period. Finally, Sigma Planning Corp acquired a new position in shares of Vestis in the third quarter valued at approximately $159,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Trading Down 2.7 %

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

Analyst Upgrades and Downgrades

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

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.