Paragon Capital Management Inc. Invests $996,000 in Vestis Corporation (NYSE:VSTS)

Paragon Capital Management Inc. bought a new stake in Vestis Corporation (NYSE:VSTS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 100,652 shares of the company's stock, valued at approximately $996,000. Paragon Capital Management Inc. owned about 0.08% of Vestis as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Vestis by 47.4% during the 4th quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company's stock valued at $47,635,000 after acquiring an additional 1,004,497 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Vestis by 46.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock worth $47,172,000 after acquiring an additional 980,303 shares during the period. Millennium Management LLC raised its holdings in shares of Vestis by 179.4% during the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock worth $45,777,000 after purchasing an additional 1,928,687 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Vestis by 2.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company's stock valued at $41,018,000 after purchasing an additional 59,824 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Vestis by 17.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock valued at $38,693,000 after purchasing an additional 382,071 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VSTS shares. The Goldman Sachs Group cut their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Barclays dropped their target price on Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. Finally, Robert W. Baird decreased their price target on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, Vestis has a consensus rating of "Hold" and a consensus target price of $11.75.

Insider Transactions at Vestis

In other news, COO William J. Seward acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the acquisition, the chief operating officer now owns 130,862 shares in the company, valued at approximately $815,270.26. This represents a 8.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Meister acquired 377,277 shares of the business's stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $5.89 per share, with a total value of $2,222,161.53. Following the completion of the purchase, the director now owns 18,380,501 shares in the company, valued at $108,261,150.89. This represents a 2.10% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 880,675 shares of company stock valued at $5,271,632 in the last three months. 13.60% of the stock is currently owned by company insiders.

Vestis Stock Up 1.9%

VSTS opened at $6.17 on Friday. The company has a fifty day moving average of $6.71 and a two-hundred day moving average of $10.84. The stock has a market capitalization of $812.42 million, a price-to-earnings ratio of -34.25 and a beta of 1.03. Vestis Corporation has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.41 and a current ratio of 1.87.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly 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). The business had revenue of $665.25 million during the quarter, compared to analysts' expectations of $690.81 million. Vestis had a negative net margin of 0.89% and a positive return on equity of 5.36%. The business's revenue was down 5.7% on a year-over-year basis. On average, research analysts expect that Vestis Corporation will post 0.7 earnings per share 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.

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