LMR Partners LLP Boosts Holdings in Vestis Co. (NYSE:VSTS)

LMR Partners LLP raised its holdings in Vestis Co. (NYSE:VSTS - Free Report) by 62.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 260,000 shares of the company's stock after acquiring an additional 99,472 shares during the period. LMR Partners LLP owned about 0.20% of Vestis worth $3,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of VSTS. Pacer Advisors Inc. acquired a new position in Vestis during the fourth quarter worth $210,766,000. AQR Capital Management LLC increased its position in shares of Vestis by 47.4% in the fourth quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company's stock valued at $47,635,000 after acquiring an additional 1,004,497 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Vestis by 46.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock valued at $47,172,000 after purchasing an additional 980,303 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Vestis by 2.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company's stock worth $41,018,000 after purchasing an additional 59,824 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Vestis by 17.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock valued at $38,693,000 after buying an additional 382,071 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Trading Down 0.7%

Shares of Vestis stock traded down $0.04 during trading on Friday, hitting $6.16. The company's stock had a trading volume of 1,939,836 shares, compared to its average volume of 2,139,368. The stock has a market cap of $811.52 million, a price-to-earnings 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. Vestis Co. has a 52 week low of $5.20 and a 52 week high of $17.83. The stock has a 50-day moving average price of $8.69 and a two-hundred day moving average price of $12.66.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VSTS shares. Barclays reduced their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company 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 for the company in a report on Monday, March 17th. Finally, Robert W. Baird dropped their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $11.75.

Insider Activity

In other news, Director Douglas A. Pertz acquired 70,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.17 per share, with a total value of $431,900.00. Following the acquisition, the director now directly owns 297,010 shares of the company's stock, valued at $1,832,551.70. The trade was a 30.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William J. Seward acquired 10,000 shares of Vestis stock in a transaction 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 directly owns 130,862 shares in the company, valued at $815,270.26. This represents a 8.27% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company's stock.

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.