Adage Capital Partners GP L.L.C. Buys New Shares in Vestis Co. (NYSE:VSTS)

Adage Capital Partners GP L.L.C. purchased a new stake in shares of Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 130,761 shares of the company's stock, valued at approximately $1,993,000. Adage Capital Partners GP L.L.C. owned 0.10% of Vestis as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of Vestis in the 4th quarter valued at about $210,766,000. First Trust Advisors LP acquired a new stake in Vestis during the 4th quarter worth $22,936,000. Birnam Oak Advisors LP bought a new stake in shares of Vestis during the 4th quarter valued at $21,446,000. Dimensional Fund Advisors LP boosted its position in shares of Vestis by 46.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock worth $47,172,000 after purchasing an additional 980,303 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Vestis by 35.9% during the fourth quarter. Marshall Wace LLP now owns 1,595,446 shares of the company's stock worth $24,315,000 after purchasing an additional 421,297 shares during the period. Institutional investors own 97.40% of the company's stock.

Analyst Ratings Changes

VSTS has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Barclays cut their target price on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating on the stock in a report on Friday, April 4th. Finally, Robert W. Baird decreased their price target on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.08.

Vestis Stock Up 3.1 %

NYSE:VSTS traded up $0.27 during trading hours on Friday, reaching $8.97. 1,474,049 shares of the stock were exchanged, compared to its average volume of 2,211,022. The stock has a market cap of $1.18 billion, a PE ratio of 112.14 and a beta of 1.61. Vestis Co. has a twelve month low of $7.35 and a twelve month high of $17.83. The firm has a 50 day moving average of $9.62 and a 200 day moving average of $13.20. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $0.22 earnings per share. On average, equities analysts expect that Vestis Co. will post 0.7 earnings per share for the current year.

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.