Nuveen LLC Invests $2.75 Million in Vestis Corporation $VSTS

Key Points

• Nuveen LLC has acquired a significant stake in Vestis Corporation, purchasing 277,360 shares valued at approximately $2.74 million.
• Numerous institutional investors, including Dimensional Fund Advisors and AQR Capital Management, have also recently increased their holdings, indicating strong institutional interest in Vestis.
• Analyst ratings for Vestis recently displayed a bearish trend, with Barclays lowering its price target from $10 to $5 and two analysts issuing "sell" ratings.

Nuveen LLC acquired a new stake in shares of Vestis Corporation (NYSE:VSTS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 277,360 shares of the company's stock, valued at approximately $2,746,000. Nuveen LLC owned 0.21% of Vestis as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in VSTS. Copeland Capital Management LLC lifted its holdings in shares of Vestis by 33.0% during the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after acquiring an additional 1,346 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Vestis by 2.0% in 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 in the last quarter. KBC Group NV lifted its holdings in Vestis by 54.2% in 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 in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Vestis by 4.6% in 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 in the last quarter. Finally, Spire Wealth Management lifted its holdings in Vestis by 168.2% in 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 in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Performance

Shares of NYSE:VSTS traded up $0.05 during trading on Friday, reaching $4.67. 1,136,430 shares of the company's stock traded hands, compared to its average volume of 2,274,641. 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 Corporation has a 12 month low of $4.32 and a 12 month high of $17.83. The company has a 50 day moving average of $5.61 and a 200-day moving average of $7.57. The stock has a market capitalization of $616.22 million, a P/E ratio of -20.32 and a beta of 0.96.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The business had revenue of $673.80 million during the quarter, compared to the consensus estimate of $673.65 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts expect that Vestis Corporation will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VSTS. JPMorgan Chase & Co. dropped their target price on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Wall Street Zen raised shares of Vestis from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Barclays dropped their target price on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $9.13.

Vestis 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.