Vestis Corporation $VSTS Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in Vestis Corporation (NYSE:VSTS - Free Report) by 9.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,354,462 shares of the company's stock after selling 133,509 shares during the period. Bank of America Corp DE owned 1.03% of Vestis worth $10,646,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Corvex Management LP lifted its position in Vestis by 5.4% in the fourth quarter. Corvex Management LP now owns 19,813,963 shares of the company's stock worth $132,159,000 after purchasing an additional 1,010,064 shares during the period. Vanguard Group Inc. increased its position in shares of Vestis by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company's stock valued at $66,438,000 after purchasing an additional 346,736 shares during the period. Royal Bank of Canada raised its stake in shares of Vestis by 1,520.5% in the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company's stock worth $37,942,000 after buying an additional 5,337,380 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Vestis by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company's stock worth $32,049,000 after buying an additional 923,459 shares in the last quarter. Finally, Greenstone Partners & Co. LLC bought a new stake in shares of Vestis in the 4th quarter worth $33,979,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

VSTS has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of Vestis from $8.20 to $9.30 and gave the stock a "sell" rating in a research report on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Vestis in a research report on Friday, August 7th. Zacks Research cut shares of Vestis from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Barclays boosted their target price on shares of Vestis from $9.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Vestis from $11.00 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $12.66.

Vestis Stock Up 0.2%

VSTS stock opened at $12.72 on Monday. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $16.90. The company's 50 day simple moving average is $14.24 and its 200-day simple moving average is $11.06. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.17 and a quick ratio of 1.75. The firm has a market capitalization of $1.68 billion, a P/E ratio of -254.35 and a beta of 0.97.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.10 by $0.08. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. The business had revenue of $661.66 million during the quarter, compared to the consensus estimate of $668.94 million. As a group, equities research analysts anticipate that Vestis Corporation will post 0.62 EPS for the current year.

Vestis Company 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.

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