State of Wyoming Boosts Stake in Vestis Co. (NYSE:VSTS)

State of Wyoming increased its position in Vestis Co. (NYSE:VSTS - Free Report) by 244.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,483 shares of the company's stock after purchasing an additional 42,922 shares during the period. State of Wyoming's holdings in Vestis were worth $922,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VSTS. Merit Financial Group LLC bought a new stake in shares of Vestis in the 4th quarter worth $234,000. Annex Advisory Services LLC increased its holdings in Vestis by 13.5% in the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock worth $4,479,000 after buying an additional 34,951 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Vestis in the 4th quarter worth about $210,766,000. Spire Wealth Management purchased a new position in Vestis in the 4th quarter worth about $29,000. Finally, Savant Capital LLC lifted its stake in Vestis by 16.1% during the 4th quarter. Savant Capital LLC now owns 74,292 shares of the company's stock valued at $1,132,000 after acquiring an additional 10,323 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Price Performance

Shares of VSTS traded up $0.01 during mid-day trading on Friday, hitting $5.76. 426,452 shares of the stock were exchanged, compared to its average volume of 2,305,904. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company has a market cap of $758.41 million, a PE ratio of 71.95 and a beta of 1.61. Vestis Co. has a 52-week low of $5.20 and a 52-week high of $17.83. The firm has a 50-day moving average of $8.19 and a two-hundred day moving average of $12.39.

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). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The business had revenue of $665.25 million during the quarter, compared to the consensus estimate of $690.81 million. The business's revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that Vestis Co. will post 0.7 earnings per share for the current year.

Insider Activity at Vestis

In related news, COO William J. Seward acquired 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the transaction, the chief operating officer now directly owns 130,862 shares in the company, valued at approximately $815,270.26. This trade represents a 8.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas A. Pertz bought 70,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $6.17 per share, with a total value of $431,900.00. Following the acquisition, the director now owns 297,010 shares in the company, valued at approximately $1,832,551.70. This trade represents a 30.84% increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays reduced their price target on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group cut their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Finally, Robert W. Baird lowered their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.75.

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.