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

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

Several other institutional investors have also recently modified their holdings of VSTS. Spire Wealth Management bought a new stake in Vestis in the fourth quarter worth $29,000. Smartleaf Asset Management LLC boosted its holdings in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock valued at $38,000 after acquiring an additional 2,123 shares during the period. Quantbot Technologies LP bought a new position in Vestis during the 4th quarter worth approximately $93,000. Sterling Capital Management LLC increased its stake in Vestis by 45.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock worth $120,000 after purchasing an additional 2,479 shares during the period. Finally, Toronto Dominion Bank bought a new stake in Vestis in the fourth quarter valued at approximately $154,000. 97.40% of the stock is currently owned by institutional investors.

Insider Transactions at Vestis

In other news, Director Douglas A. Pertz purchased 70,000 shares of Vestis stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, with a total value of $431,900.00. Following the completion of the purchase, the director now directly owns 297,010 shares in the company, valued at approximately $1,832,551.70. This trade represents a 30.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO William J. Seward acquired 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $6.23 per share, with a total value of $62,300.00. Following the acquisition, the chief operating officer now owns 130,862 shares of the company's stock, valued at $815,270.26. This represents a 8.27% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group decreased 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. Robert W. Baird decreased their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. 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 report on Friday, May 9th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.75.

Vestis Trading Up 0.1%

NYSE:VSTS traded up $0.01 during trading hours on Friday, hitting $5.76. The company had a trading volume of 426,452 shares, compared to its average volume of 2,305,904. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. Vestis Co. has a 52 week low of $5.20 and a 52 week high of $17.83. The company has a market capitalization of $758.41 million, a PE ratio of 71.95 and a beta of 1.61. The stock has a 50-day moving average price of $8.19 and a 200 day moving average price of $12.39.

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

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.