Vestis Corporation $VSTS is Vision One Management Partners LP's 2nd Largest Position

Key Points

• Vision One Management Partners LP increased its stake in Vestis Corporation (VSTS) by 57.0%, owning approximately 3.3 million shares, which represent 19.0% of its portfolio.
• Several other institutional investors also boosted their positions in Vestis during the first quarter, leading to a combined ownership of 97.40% of the company's stock by hedge funds and other investors.
• Vestis reported $0.05 EPS for the last quarter, matching expectations, but experienced a 3.5% decrease in year-over-year revenue, with analysts predicting an EPS of 0.7 for the current year.

Vision One Management Partners LP boosted its stake in Vestis Corporation (NYSE:VSTS - Free Report) by 57.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,309,017 shares of the company's stock after purchasing an additional 1,201,458 shares during the quarter. Vestis comprises approximately 19.0% of Vision One Management Partners LP's portfolio, making the stock its 2nd biggest holding. Vision One Management Partners LP owned approximately 2.51% of Vestis worth $32,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VSTS. Copeland Capital Management LLC grew its position in Vestis by 33.0% during the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after acquiring an additional 1,346 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in Vestis by 10.5% during the first quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company's stock valued at $183,000 after acquiring an additional 1,753 shares during the last quarter. Federated Hermes Inc. grew its position in Vestis by 2.0% during the first quarter. Federated Hermes Inc. now owns 121,589 shares of the company's stock valued at $1,204,000 after acquiring an additional 2,352 shares during the last quarter. KBC Group NV grew its position in Vestis by 54.2% during the first quarter. KBC Group NV now owns 7,309 shares of the company's stock valued at $72,000 after acquiring an additional 2,568 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Vestis by 4.6% during the first quarter. Illinois Municipal Retirement Fund now owns 62,177 shares of the company's stock valued at $616,000 after acquiring an additional 2,727 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Trading Up 1.4%

NYSE:VSTS traded up $0.07 during trading hours on Friday, hitting $4.58. The company had a trading volume of 1,684,789 shares, compared to its average volume of 2,319,592. The company has a market capitalization of $603.17 million, a PE ratio of -19.89 and a beta of 0.97. The stock has a 50-day moving average price of $5.49 and a 200 day moving average price of $7.40. Vestis Corporation has a 52 week low of $4.32 and a 52 week high of $17.83. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $673.80 million for the quarter, compared to analysts' expectations of $673.65 million. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, equities research analysts predict that Vestis Corporation will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Vestis from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Finally, Barclays cut their target price on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $9.13.

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.