93,886 Shares in Vestis Corporation $VSTS Acquired by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. invested approximately $929,000 in Vestis Corporation, acquiring 93,886 shares during the first quarter.
• During the same period, other hedge funds also increased their stakes in Vestis, with New York State Common Retirement Fund boosting its position by 7.3% and Lord Abbett & Co. LLC increasing its holdings by 27.4%.
• Vestis Corporation recently reported earnings of $0.05 EPS, meeting analysts' expectations, but its revenue declined 3.5% year-over-year.

Capital Fund Management S.A. bought a new stake in Vestis Corporation (NYSE:VSTS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 93,886 shares of the company's stock, valued at approximately $929,000. Capital Fund Management S.A. owned approximately 0.07% of Vestis at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VSTS. Alberta Investment Management Corp grew its position in Vestis by 65.2% in the first quarter. Alberta Investment Management Corp now owns 6,145,000 shares of the company's stock valued at $60,836,000 after purchasing an additional 2,426,167 shares in the last quarter. Millennium Management LLC grew its position in shares of Vestis by 179.4% in the 4th quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock valued at $45,777,000 after acquiring an additional 1,928,687 shares during the period. Royce & Associates LP grew its position in shares of Vestis by 196.2% in the 1st quarter. Royce & Associates LP now owns 2,842,936 shares of the company's stock valued at $28,145,000 after acquiring an additional 1,883,106 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Vestis in the 4th quarter valued at about $25,805,000. Finally, Private Management Group Inc. grew its position in shares of Vestis by 158.7% in the 1st quarter. Private Management Group Inc. now owns 1,774,342 shares of the company's stock valued at $17,566,000 after acquiring an additional 1,088,514 shares during the period. Institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

VSTS has been the subject of a number of research reports. Barclays cut their target price on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Vestis from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. cut their target price 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. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Vestis presently has an average rating of "Reduce" and a consensus price target of $9.13.

Vestis Stock Performance

Vestis stock traded up $0.05 during midday trading on Monday, hitting $4.67. The company's stock had a trading volume of 1,136,430 shares, compared to its average volume of 2,243,455. Vestis Corporation has a 1-year low of $4.32 and a 1-year high of $17.83. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42. The company has a 50-day moving average price of $5.61 and a two-hundred day moving average price of $7.57. The company has a market cap of $616.22 million, a price-to-earnings ratio of -20.32 and a beta of 0.98.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company 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 for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. As a group, sell-side analysts predict that Vestis Corporation will post 0.7 earnings per share for the current year.

Vestis Company 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.