Vestis Co. (NYSE:VSTS) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 58.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,683 shares of the company's stock after selling 149,346 shares during the period. Point72 Asset Management L.P. owned about 0.08% of Vestis worth $1,611,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC acquired a new position in shares of Vestis in the 4th quarter valued at approximately $234,000. Pacer Advisors Inc. bought a new stake in shares of Vestis in the fourth quarter worth $210,766,000. Spire Wealth Management acquired a new stake in Vestis in the fourth quarter valued at $29,000. Savant Capital LLC boosted 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 last quarter. Finally, Rhumbline Advisers boosted its stake in Vestis by 3.2% during the 4th quarter. Rhumbline Advisers now owns 289,052 shares of the company's stock valued at $4,405,000 after acquiring an additional 9,076 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VSTS shares. Robert W. Baird dropped their target price on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Barclays decreased their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research note on Friday, May 9th. Finally, The Goldman Sachs Group lowered their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, Vestis presently has an average rating of "Hold" and an average target price of $11.75.

Vestis Stock Down 5.3%

VSTS stock opened at $5.60 on Thursday. The firm has a market cap of $737.33 million, a price-to-earnings ratio of 69.95 and a beta of 1.61. Vestis Co. has a 1-year low of $5.20 and a 1-year high of $17.83. The firm has a fifty day moving average price of $8.30 and a two-hundred day moving average price of $12.44. 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 (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 business 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 firm's revenue was down 5.7% on a year-over-year basis. Research analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Insider Buying and Selling at Vestis

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

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.

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