Vestis Corporation $VSTS Shares Sold by Caxton Associates LLP

Key Points

• Caxton Associates LLP cut its Vestis stake by 48% in the first quarter, selling 145,613 shares and ending with 157,786 shares worth about $1.24 million.
• Several other hedge funds were active in Vestis, and institutional investors now own 97.4% of the company, indicating heavy institutional interest despite the recent sale.
• Vestis reported better-than-expected quarterly earnings of $0.16 per share on revenue of $659.44 million, while analysts currently hold an overall “Reduce” rating with an average price target of $9.50.

Caxton Associates LLP lowered its stake in shares of Vestis Corporation (NYSE:VSTS - Free Report) by 48.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,786 shares of the company's stock after selling 145,613 shares during the period. Caxton Associates LLP owned approximately 0.12% of Vestis worth $1,240,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of Vestis by 1,506.6% in the 4th quarter. SG Americas Securities LLC now owns 295,000 shares of the company's stock worth $1,968,000 after buying an additional 276,638 shares during the period. Pacific Point Advisors LLC boosted its holdings in Vestis by 603.8% in the fourth quarter. Pacific Point Advisors LLC now owns 214,686 shares of the company's stock valued at $1,432,000 after acquiring an additional 184,181 shares during the last quarter. QSM Asset Management Ltd grew its position in Vestis by 25.0% during the fourth quarter. QSM Asset Management Ltd now owns 380,072 shares of the company's stock valued at $2,535,000 after acquiring an additional 76,036 shares during the period. UBS Group AG grew its position in Vestis by 121.2% during the fourth quarter. UBS Group AG now owns 885,984 shares of the company's stock valued at $5,910,000 after acquiring an additional 485,396 shares during the period. Finally, Vanguard Group Inc. increased its stake in Vestis by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company's stock worth $66,438,000 after acquiring an additional 346,736 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Zacks Research upgraded Vestis from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. William Blair upgraded Vestis from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. Stifel Nicolaus increased their target price on shares of Vestis from $8.50 to $11.00 and gave the stock a "hold" rating in a research report on Wednesday, May 13th. The Goldman Sachs Group restated a "sell" rating and issued a $7.50 price target on shares of Vestis in a report on Wednesday, May 13th. Finally, Robert W. Baird lifted their price target on shares of Vestis from $10.00 to $14.00 and gave the company a "neutral" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $9.50.

Vestis Stock Down 0.2%

Shares of NYSE VSTS opened at $15.56 on Friday. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $16.90. The company has a market cap of $2.06 billion, a P/E ratio of -111.12 and a beta of 0.98. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44. The stock has a fifty day moving average price of $13.67 and a 200 day moving average price of $10.00.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.07. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The company had revenue of $659.44 million for the quarter, compared to analysts' expectations of $655.32 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The firm's quarterly revenue was down .9% on a year-over-year basis. Research analysts anticipate that Vestis Corporation will post 0.52 EPS for the current fiscal year.

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

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