Amalgamated Bank Invests $1.29 Million in Vestis Co. (NYSE:VSTS)

Amalgamated Bank bought a new position in Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 60,940 shares of the company's stock, valued at approximately $1,288,000.

Other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new position in shares of Vestis during the 4th quarter worth about $25,000. Sound Income Strategies LLC bought a new stake in Vestis in the fourth quarter valued at about $25,000. CI Investments Inc. bought a new stake in Vestis in the third quarter valued at about $28,000. Daiwa Securities Group Inc. bought a new stake in Vestis in the fourth quarter valued at about $34,000. Finally, S.A. Mason LLC bought a new stake in Vestis in the fourth quarter valued at about $52,000. Institutional investors own 97.40% of the company's stock.

Insider Buying and Selling

In other Vestis news, Director Williams Ena Koschel purchased 8,500 shares of the company's stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $12.27 per share, with a total value of $104,295.00. Following the completion of the purchase, the director now directly owns 29,266 shares in the company, valued at approximately $359,093.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Corvex Management Lp bought 1,828,009 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $9.54 per share, with a total value of $17,439,205.86. Following the completion of the purchase, the insider now owns 14,973,187 shares of the company's stock, valued at $142,844,203.98. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Williams Ena Koschel bought 8,500 shares of the stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $12.27 per share, with a total value of $104,295.00. Following the purchase, the director now directly owns 29,266 shares of the company's stock, valued at approximately $359,093.82. The disclosure for this purchase can be found here. Insiders acquired a total of 2,537,025 shares of company stock valued at $24,900,408 over the last ninety days.

Vestis Price Performance

Shares of VSTS stock traded up $0.18 during trading hours on Wednesday, reaching $12.77. 2,258,947 shares of the company were exchanged, compared to its average volume of 2,425,675. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The stock's fifty day moving average is $17.18 and its two-hundred day moving average is $18.51. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.51 and a quick ratio of 2.16.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.09). The firm had revenue of $705.37 million for the quarter, compared to the consensus estimate of $722.54 million. The company's revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Vestis Co. will post 0.58 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, March 14th.

Analysts Set New Price Targets

A number of analysts recently weighed in on VSTS shares. Robert W. Baird lowered their target price on shares of Vestis from $24.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, May 3rd. Stifel Nicolaus reissued a "hold" rating on shares of Vestis in a research note on Friday, May 3rd. The Goldman Sachs Group reduced their price target on shares of Vestis from $20.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, May 6th. Barclays reduced their price target on shares of Vestis from $19.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, May 3rd. Finally, Redburn Atlantic lowered shares of Vestis from a "buy" rating to a "neutral" rating and set a $13.40 price target on the stock. in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.38.

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.