Jane Street Group LLC Has $19.62 Million Stock Holdings in Vestis Corporation $VSTS

Key Points

• Jane Street Group LLC increased its holdings in Vestis Corporation by 700.5%, owning approximately 1.50% of the company valued at $19.62 million.
• Vestis Corporation's stock has a market capitalization of $616.22 million and has recently traded at $4.67, with analysts giving it an average target price of $9.13.
• The company reported earnings of $0.05 per share in its latest quarter, consistent with analyst forecasts, although its revenue saw a 3.5% year-over-year decline.

Jane Street Group LLC boosted its position in Vestis Corporation (NYSE:VSTS - Free Report) by 700.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,982,027 shares of the company's stock after buying an additional 1,734,442 shares during the quarter. Jane Street Group LLC owned approximately 1.50% of Vestis worth $19,622,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Copeland Capital Management LLC raised its position in Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after buying an additional 1,346 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Vestis by 2.0% during the 1st quarter. Federated Hermes Inc. now owns 121,589 shares of the company's stock worth $1,204,000 after buying an additional 2,352 shares during the last quarter. KBC Group NV boosted its stake 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 buying an additional 2,568 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Vestis by 4.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 62,177 shares of the company's stock worth $616,000 after buying an additional 2,727 shares during the last quarter. Finally, Spire Wealth Management boosted its stake 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 buying an additional 3,205 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Stock Up 1.2%

Vestis stock opened at $4.67 on Friday. The firm has a market capitalization of $616.22 million, a PE ratio of -20.32 and a beta of 0.96. The company's 50-day moving average is $5.61 and its 200-day moving average is $7.66. Vestis Corporation has a fifty-two week low of $4.32 and a fifty-two week 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.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $673.80 million for the quarter, compared to analyst estimates of $673.65 million. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. Vestis'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 business earned $0.16 EPS. Sell-side analysts anticipate that Vestis Corporation will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

VSTS has been the subject of a number of recent research reports. Barclays reduced their price objective 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. JPMorgan Chase & Co. reduced 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. Finally, Wall Street Zen upgraded shares of Vestis from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $9.13.

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.

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