Vestis Co. (NYSE:VSTS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,879,468 shares of the company's stock after selling 204,854 shares during the period. Wellington Management Group LLP owned approximately 2.19% of Vestis worth $43,883,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new position in Vestis during the fourth quarter worth $29,000. True Wealth Design LLC acquired a new position in Vestis during the 4th quarter worth about $29,000. Smartleaf Asset Management LLC lifted its stake in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock worth $38,000 after acquiring an additional 2,123 shares in the last quarter. Quantbot Technologies LP acquired a new position in Vestis during the 4th quarter worth about $93,000. Finally, Sterling Capital Management LLC lifted its stake in Vestis by 45.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock worth $120,000 after acquiring an additional 2,479 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Stock Down 0.6%

Shares of NYSE:VSTS traded down $0.04 during trading on Friday, hitting $6.16. The company's stock had a trading volume of 1,997,471 shares, compared to its average volume of 2,176,687. The business has a 50 day moving average price of $7.68 and a two-hundred day moving average price of $12.07. The company has a market capitalization of $811.78 million, a PE ratio of 77.01 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. Vestis Co. has a fifty-two week low of $5.20 and a fifty-two week high of $17.83.

Vestis (NYSE:VSTS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.20). The business had revenue of $665.25 million during the quarter, compared to analysts' expectations of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. Vestis's revenue was down 5.7% compared to the same quarter last year. As a group, research analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Vestis

In related news, Director Keith A. Meister purchased 377,277 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of $5.89 per share, with a total value of $2,222,161.53. Following the completion of the acquisition, the director now directly owns 18,380,501 shares in the company, valued at $108,261,150.89. This represents a 2.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO William J. Seward purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average price of $6.23 per share, for a total transaction of $62,300.00. Following the transaction, the chief operating officer now directly owns 130,862 shares in the company, valued at $815,270.26. This trade represents a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 880,675 shares of company stock valued at $5,271,632 over the last quarter. 13.60% of the stock is owned by insiders.

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.