Annex Advisory Services LLC Buys 78,517 Shares of Vestis Co. (NYSE:VSTS)

Annex Advisory Services LLC lifted its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 26.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 372,416 shares of the company's stock after acquiring an additional 78,517 shares during the quarter. Annex Advisory Services LLC owned approximately 0.28% of Vestis worth $3,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VSTS. AQR Capital Management LLC grew 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 worth $47,635,000 after acquiring an additional 1,004,497 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Vestis by 46.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock worth $47,172,000 after purchasing an additional 980,303 shares during the last quarter. Millennium Management LLC grew its stake 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 period. Jacobs Levy Equity Management Inc. increased its holdings in Vestis by 2.3% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Vestis by 17.7% in 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 last quarter. Institutional investors own 97.40% of the company's stock.

Vestis Trading Up 1.9%

NYSE:VSTS traded up $0.12 on Friday, reaching $6.30. The company's stock had a trading volume of 1,208,668 shares, compared to its average volume of 2,186,160. The firm has a market cap of $829.57 million, a PE ratio of 78.70 and a beta of 1.03. 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 business's 50-day moving average price is $7.37 and its two-hundred day moving average price is $11.85. Vestis Co. has a 1-year low of $5.20 and a 1-year high of $17.83.

Vestis (NYSE:VSTS - Get Free Report) last posted its 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 business had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. Vestis's revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VSTS. The Goldman Sachs Group reduced their target price on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Robert W. Baird reduced their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Finally, Barclays lowered their target price 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. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.75.

Insider Buying and Selling

In other news, Director Keith A. Meister bought 314,390 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price of $6.03 per share, for a total transaction of $1,895,771.70. Following the purchase, the director now owns 18,803,899 shares of the company's stock, valued at approximately $113,387,510.97. The trade was a 1.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William J. Seward purchased 10,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $6.23 per share, with a total value of $62,300.00. Following the completion of the purchase, the chief operating officer now directly owns 130,862 shares in the company, valued at approximately $815,270.26. This represents a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 880,675 shares of company stock worth $5,271,632 over the last ninety days. Company 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.