Stanley Capital Management LLC Acquires 90,000 Shares of Vestis Co. (NYSE:VSTS)

Stanley Capital Management LLC grew its position in Vestis Co. (NYSE:VSTS - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 831,300 shares of the company's stock after acquiring an additional 90,000 shares during the quarter. Vestis accounts for 2.5% of Stanley Capital Management LLC's portfolio, making the stock its 19th biggest holding. Stanley Capital Management LLC owned approximately 0.63% of Vestis worth $12,669,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. bought a new stake in shares of Vestis in the 4th quarter valued at approximately $210,766,000. AQR Capital Management LLC raised its holdings 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 buying an additional 1,004,497 shares during the period. Dimensional Fund Advisors LP lifted its position in 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 buying an additional 980,303 shares during the last quarter. Millennium Management LLC lifted its position in Vestis by 179.4% in the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock worth $45,777,000 after buying an additional 1,928,687 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake 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 worth $41,018,000 after buying an additional 59,824 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Trading Down 2.2%

Shares of NYSE:VSTS traded down $0.13 on Tuesday, hitting $5.89. 1,948,821 shares of the company's stock were exchanged, compared to its average volume of 2,139,511. The stock has a market capitalization of $776.20 million, a price-to-earnings ratio of 73.63 and a beta of 1.61. Vestis Co. has a 12 month low of $5.20 and a 12 month high of $17.83. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The business's 50 day simple moving average is $8.49 and its two-hundred day simple moving average is $12.54.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.20). The company had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. The company's revenue for the quarter was down 5.7% on a year-over-year basis. Analysts anticipate that Vestis Co. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VSTS. The Goldman Sachs Group reduced their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Barclays cut their price target on shares of 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 objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat.com, Vestis presently has a consensus rating of "Hold" and an average target price of $11.75.

Insiders Place Their Bets

In other news, Director Douglas A. Pertz bought 70,000 shares of the stock in a transaction on Thursday, May 8th. The stock was acquired at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the acquisition, the director now owns 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO William J. Seward purchased 10,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $6.23 per share, for a total transaction of $62,300.00. Following the purchase, the chief operating officer now owns 130,862 shares of the company's stock, valued at approximately $815,270.26. This trade represents a 8.27% increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company's stock.

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.