Swiss National Bank Purchases New Shares in Vestis Co. (NYSE:VSTS)

Swiss National Bank bought a new stake in Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 257,650 shares of the company's stock, valued at approximately $5,447,000. Swiss National Bank owned 0.20% of Vestis at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new position in shares of Vestis in the fourth quarter valued at $25,000. Sound Income Strategies LLC purchased a new position in shares of Vestis in the fourth quarter valued at $25,000. CI Investments Inc. purchased a new position in shares of Vestis in the third quarter valued at $28,000. Daiwa Securities Group Inc. purchased a new position in Vestis during the fourth quarter worth about $34,000. Finally, S.A. Mason LLC purchased a new position in Vestis during the fourth quarter worth about $52,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Down 2.4 %

NYSE:VSTS traded down $0.31 during trading hours on Friday, reaching $12.52. The company's stock had a trading volume of 1,880,223 shares, compared to its average volume of 5,378,928. The firm has a 50-day simple moving average of $16.93 and a 200-day simple moving average of $18.45. 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 Co. has a 1 year low of $8.92 and a 1 year high of $22.37.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.09). The firm had revenue of $705.37 million during the quarter, compared to analysts' expectations of $722.54 million. The company's quarterly revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Vestis Co. will post 0.58 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders 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 1.12%. The ex-dividend date of this dividend was Thursday, March 14th.

Insider Transactions at Vestis

In other news, major shareholder Corvex Management Lp acquired 1,828,009 shares of the stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost 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 in the company, valued at approximately $142,844,203.98. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Vestis news, Director James Phillip Holloman acquired 20,200 shares of the business's stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $9.93 per share, for a total transaction of $200,586.00. Following the transaction, the director now owns 44,132 shares in the company, valued at $438,230.76. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Corvex Management Lp bought 1,828,009 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $9.54 per share, with a total value of $17,439,205.86. Following the acquisition, the insider now owns 14,973,187 shares of the company's stock, valued at $142,844,203.98. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,537,025 shares of company stock worth $24,900,408.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VSTS. Stifel Nicolaus restated a "hold" rating on shares of Vestis in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut Vestis from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $22.00 to $11.00 in a research report on Friday, May 3rd. Robert W. Baird reduced their target price on Vestis from $24.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, May 3rd. Redburn Atlantic cut Vestis from a "buy" rating to a "neutral" rating and set a $13.40 target price for the company. in a research report on Tuesday, May 7th. Finally, The Goldman Sachs Group reduced their target price on Vestis from $20.00 to $11.00 and set a "neutral" rating for the company in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $16.38.

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.