Vestis Co. (NYSE:VSTS) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its stake in Vestis Co. (NYSE:VSTS - Free Report) by 179.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,003,762 shares of the company's stock after purchasing an additional 1,928,687 shares during the quarter. Millennium Management LLC owned 2.28% of Vestis worth $45,777,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Vestis by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock worth $681,000 after acquiring an additional 1,735 shares during the period. Merit Financial Group LLC purchased a new position in shares of Vestis during the 4th quarter worth approximately $234,000. Annex Advisory Services LLC raised its stake in shares of Vestis by 13.5% during the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock worth $4,479,000 after buying an additional 34,951 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Vestis in the fourth quarter valued at approximately $210,766,000. Finally, Spire Wealth Management purchased a new stake in shares of Vestis in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Price Performance

VSTS traded up $0.26 during trading on Thursday, reaching $5.85. 477,900 shares of the stock were exchanged, compared to its average volume of 2,139,846. 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 has a market capitalization of $770.27 million, a price-to-earnings ratio of 73.07 and a beta of 1.61. Vestis Co. has a 1 year low of $5.20 and a 1 year high of $17.83. The business's 50 day moving average price is $8.30 and its two-hundred day moving average price is $12.44.

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 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 return on equity of 7.91% and a net margin of 0.34%. The company's revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on VSTS. Robert W. Baird cut their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. The Goldman Sachs Group cut their price target on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, Barclays decreased their price objective 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. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $11.75.

Insider Transactions at Vestis

In related news, COO William J. Seward acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $6.23 per share, with a total value of $62,300.00. Following the completion of the purchase, the chief operating officer now directly owns 130,862 shares in the company, valued at approximately $815,270.26. The trade was a 8.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas A. Pertz bought 70,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $6.17 per share, with a total value of $431,900.00. Following the purchase, the director now directly owns 297,010 shares in the company, valued at $1,832,551.70. The trade was a 30.84% increase in their position. The disclosure for this purchase can be found here. Corporate 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.