Vestis Co. (NYSE:VSTS) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its position in Vestis Co. (NYSE:VSTS - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,691,476 shares of the company's stock after buying an additional 59,824 shares during the quarter. Jacobs Levy Equity Management Inc. owned 2.04% of Vestis worth $41,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Spire Wealth Management purchased a new stake in Vestis during the 4th quarter worth about $29,000. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 2,123 shares during the period. GAMMA Investing LLC increased its holdings in Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock worth $71,000 after purchasing an additional 710 shares during the period. Quantbot Technologies LP purchased a new stake in Vestis during the 4th quarter worth about $93,000. Finally, Sterling Capital Management LLC increased its holdings 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 purchasing an additional 2,479 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Vestis Stock Down 0.7%

Shares of VSTS traded down $0.04 during mid-day trading on Friday, reaching $6.16. The company's stock had a trading volume of 1,939,836 shares, compared to its average volume of 2,139,607. Vestis Co. has a 12-month low of $5.20 and a 12-month high of $17.83. The stock has a market cap of $811.52 million, a PE ratio of 76.98 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The company's 50 day moving average is $8.59 and its 200 day moving average is $12.60.

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

Insider Activity

In other Vestis news, Director Douglas A. Pertz acquired 70,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the acquisition, the director now owns 297,010 shares in the company, valued at $1,832,551.70. The trade was a 30.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO William J. Seward bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was 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 owns 130,862 shares in the company, valued at approximately $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. Company insiders own 13.60% of the company's stock.

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.