Adage Capital Partners GP L.L.C. Has $4.76 Million Stock Position in Vestis Corporation $VSTS

Adage Capital Partners GP L.L.C. raised its holdings in Vestis Corporation (NYSE:VSTS - Free Report) by 267.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 480,761 shares of the company's stock after purchasing an additional 350,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.36% of Vestis worth $4,760,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VSTS. Spire Wealth Management lifted its holdings in shares of Vestis by 168.2% during the 1st quarter. Spire Wealth Management now owns 5,110 shares of the company's stock worth $51,000 after acquiring an additional 3,205 shares during the period. Copeland Capital Management LLC lifted its holdings in shares of Vestis by 33.0% during the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock worth $54,000 after acquiring an additional 1,346 shares during the period. KBC Group NV lifted its holdings in shares of Vestis by 54.2% during the 1st quarter. KBC Group NV now owns 7,309 shares of the company's stock worth $72,000 after acquiring an additional 2,568 shares during the period. Toronto Dominion Bank bought a new position in Vestis in the 4th quarter valued at approximately $154,000. Finally, Hsbc Holdings PLC bought a new position in Vestis in the 1st quarter valued at approximately $137,000. Institutional investors own 97.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Wall Street Zen raised shares of Vestis from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $9.13.

Vestis Stock Down 2.7%

NYSE VSTS traded down $0.12 on Friday, hitting $4.24. 447,227 shares of the company were exchanged, compared to its average volume of 2,299,943. The company has a market cap of $559.53 million, a PE ratio of -18.46 and a beta of 0.97. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $17.83. The stock has a fifty day moving average of $5.32 and a 200-day moving average of $7.09. The company has a current ratio of 1.84, a quick ratio of 1.42 and a debt-to-equity ratio of 1.45.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.05. The firm had revenue of $673.80 million during the quarter, compared to analysts' expectations of $673.65 million. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The business's revenue was down 3.5% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. As a group, analysts forecast that Vestis Corporation will post 0.7 earnings per share for the current year.

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.