State of Wyoming Purchases 42,922 Shares of Vestis Co. (NYSE:VSTS)

State of Wyoming increased its position in Vestis Co. (NYSE:VSTS - Free Report) by 244.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,483 shares of the company's stock after purchasing an additional 42,922 shares during the quarter. State of Wyoming's holdings in Vestis were worth $922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Spire Wealth Management bought a new stake in shares of Vestis during the 4th quarter worth about $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock valued at $38,000 after purchasing an additional 2,123 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Vestis in the fourth quarter worth $93,000. Sterling Capital Management LLC grew its holdings in shares of Vestis by 45.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock valued at $120,000 after buying an additional 2,479 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new position in Vestis during the fourth quarter valued at $154,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Stock Down 2.2%

Shares of NYSE:VSTS traded down $0.13 during trading on Tuesday, hitting $5.89. 1,948,821 shares of the company's stock traded hands, compared to its average volume of 2,139,511. The company has a 50-day moving average price of $8.49 and a 200-day moving average price of $12.54. Vestis Co. has a 52 week low of $5.20 and a 52 week high of $17.83. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company has a market cap of $776.20 million, a price-to-earnings ratio of 73.63 and a beta of 1.61.

Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.20). The firm had revenue of $665.25 million during 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 business's revenue for the quarter was down 5.7% on a year-over-year basis. As a group, research analysts forecast that Vestis Co. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Vestis

In related news, Director Douglas A. Pertz acquired 70,000 shares of Vestis stock in a transaction on Thursday, May 8th. The stock was purchased at an average cost of $6.17 per share, with a total value of $431,900.00. Following the completion of the transaction, the director now directly owns 297,010 shares in the company, valued at $1,832,551.70. This trade represents a 30.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William J. Seward acquired 10,000 shares of the stock in a transaction on 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 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.60% of the company's stock.

Wall Street Analyst Weigh In

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

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.