JPMorgan Chase & Co. Has $736,000 Stock Holdings in Vestis Corporation $VSTS

Key Points

• JPMorgan Chase cut its Vestis position by 76% in Q3, selling 513,323 shares and ending the quarter with 162,447 shares valued at about $736,000 (≈0.12% of the company).
• Analysts are broadly negative — the stock carries an average rating of “Strong Sell” with an average target of $5.88, even after Goldman Sachs raised its target to $6 while maintaining a sell/underweight view.
• Vestis opened at $8.67, has a $1.14 billion market cap, recently beat quarterly EPS estimates ($0.10 vs. $0.06) while revenue was down 3% year-over-year, and the company shows a negative net margin with a reported PE of -23.42.

JPMorgan Chase & Co. lessened its position in shares of Vestis Corporation (NYSE:VSTS - Free Report) by 76.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,447 shares of the company's stock after selling 513,323 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Vestis worth $736,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Vestis by 471.9% during the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company's stock valued at $31,000 after acquiring an additional 4,502 shares during the period. Osaic Holdings Inc. increased its holdings in Vestis by 703.2% in the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company's stock valued at $33,000 after purchasing an additional 5,028 shares during the last quarter. AREX Capital Management LP bought a new stake in Vestis in the second quarter valued at about $57,000. Simplicity Wealth LLC bought a new stake in Vestis in the third quarter valued at about $46,000. Finally, Sanders Morris Harris LLC bought a new stake in Vestis in the third quarter valued at about $47,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VSTS. The Goldman Sachs Group upped their price objective on Vestis from $5.30 to $6.00 and gave the company a "sell" rating in a report on Wednesday, February 11th. Barclays reiterated an "underweight" rating on shares of Vestis in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Vestis in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and an average target price of $5.88.

Vestis Trading Up 0.9%

NYSE VSTS opened at $8.67 on Friday. The stock has a 50-day simple moving average of $7.71 and a 200 day simple moving average of $6.57. The company has a market capitalization of $1.14 billion, a PE ratio of -23.42 and a beta of 0.40. The company has a current ratio of 2.17, a quick ratio of 1.74 and a debt-to-equity ratio of 1.48. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $9.80.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. Vestis had a positive return on equity of 2.08% and a negative net margin of 1.75%.The business had revenue of $663.39 million during the quarter, compared to the consensus estimate of $665.77 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The firm's revenue was down 3.0% on a year-over-year basis. Research analysts forecast that Vestis Corporation will post 0.7 EPS 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.

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