Mutual of America Capital Management LLC Cuts Stock Position in Vestis Corporation (NYSE:VSTS)

Mutual of America Capital Management LLC reduced its stake in shares of Vestis Corporation (NYSE:VSTS - Free Report) by 91.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,691 shares of the company's stock after selling 189,882 shares during the quarter. Mutual of America Capital Management LLC's holdings in Vestis were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in VSTS. True Wealth Design LLC purchased a new position in shares of Vestis in the fourth quarter valued at $29,000. Spire Wealth Management grew its holdings in shares of Vestis by 168.2% in the first quarter. Spire Wealth Management now owns 5,110 shares of the company's stock valued at $51,000 after purchasing an additional 3,205 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Vestis by 33.0% in the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after purchasing an additional 1,346 shares in the last quarter. KBC Group NV grew its holdings in shares of Vestis by 54.2% in the first quarter. KBC Group NV now owns 7,309 shares of the company's stock valued at $72,000 after purchasing an additional 2,568 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Vestis in the fourth quarter valued at $93,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Trading Up 0.6%

Shares of NYSE:VSTS traded up $0.04 on Monday, hitting $6.42. 1,112,876 shares of the company's stock were exchanged, compared to its average volume of 2,052,412. Vestis Corporation has a 12 month low of $5.20 and a 12 month high of $17.83. The stock has a market capitalization of $846.03 million, a price-to-earnings ratio of -35.67 and a beta of 0.96. The business's 50 day simple moving average is $6.09 and its two-hundred day simple moving average is $9.27. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.87 and a quick ratio of 1.41.

Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a positive return on equity of 5.36% and a negative net margin of 0.89%. The business had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts anticipate that Vestis Corporation will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VSTS shares. Barclays lowered their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $6.00 price target (up from $5.00) on shares of Vestis in a research report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $9.25.

Insider Transactions at Vestis

In other Vestis news, Director Keith A. Meister bought 314,390 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average cost of $6.03 per share, for a total transaction of $1,895,771.70. Following the completion of the transaction, the director owned 18,803,899 shares in the company, valued at $113,387,510.97. This trade represents a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas A. Pertz acquired 70,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $6.17 per share, with a total value of $431,900.00. Following the completion of the acquisition, the director directly owned 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. Over the last ninety days, insiders acquired 880,675 shares of company stock worth $5,271,632. 13.60% of the stock is currently 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.