D. E. Shaw & Co. Inc. Takes Position in Vestis Co. (NYSE:VSTS)

D. E. Shaw & Co. Inc. acquired a new position in shares of Vestis Co. (NYSE:VSTS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 151,413 shares of the company's stock, valued at approximately $2,308,000. D. E. Shaw & Co. Inc. owned 0.11% of Vestis as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VSTS. Raymond James Financial Inc. acquired a new stake in Vestis in the fourth quarter worth $2,194,000. Proficio Capital Partners LLC acquired a new stake in Vestis in the fourth quarter worth $185,000. Ieq Capital LLC grew its holdings in Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company's stock worth $2,449,000 after purchasing an additional 140,324 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Vestis by 17.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock worth $38,693,000 after purchasing an additional 382,071 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in Vestis in the fourth quarter worth $210,766,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Up 3.8%

Shares of Vestis stock traded up $0.22 during trading hours on Friday, reaching $5.97. The company's stock had a trading volume of 2,788,971 shares, compared to its average volume of 2,154,778. Vestis Co. has a one year low of $5.20 and a one year high of $17.83. The company has a market capitalization of $786.74 million, a P/E ratio of 74.63 and a beta of 1.61. The stock's fifty day simple moving average is $8.19 and its two-hundred day simple moving average is $12.39. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.20). Vestis had a net margin of 0.34% and a return on equity of 7.91%. The firm had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. Vestis's quarterly revenue was down 5.7% compared to the same quarter last year. On average, research analysts forecast that Vestis Co. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Barclays dropped their price objective on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Vestis currently has an average rating of "Hold" and a consensus price target of $11.75.

Insider Activity at Vestis

In other news, COO William J. Seward purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $6.23 per share, with a total value of $62,300.00. Following the completion of the transaction, the chief operating officer now directly owns 130,862 shares of the company's stock, valued at approximately $815,270.26. This trade represents a 8.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas A. Pertz purchased 70,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the transaction, the director now directly owns 297,010 shares of the company's stock, valued at $1,832,551.70. This represents a 30.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.60% of the stock is owned by insiders.

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.