Vestis, Veralto and Kellogg Shares Fall as Recent Spin-Offs Slump

By adminOctober 4, 2023 10:20 am EDT0 ViewsNo Comments

By Will Feuer

Shares of recently spun-off companies, including Vestis, Veralto and W.K. Kellogg, are so far getting the cold shoulder from Wall Street.

Shares of Vestis, which houses the uniform-services business spun-off by Aramark, fell 5% in midday trading. So far this week, the stock is down almost 17%.

Veralto, which was spun-off from Danaher and houses the industrial conglomerate’s former environmental-solutions business, trades almost 9% lower on Tuesday.

Shares of W.K. Kellogg, which houses Kellogg’s former North American cereal business, fell more than 7%. This week, the stock is down almost 16%.

Write to Will Feuer at [email protected]

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