Schonfeld Strategic Advisors LLC Sells 54,359 Shares of Vestis Co. (NYSE:VSTS)

Schonfeld Strategic Advisors LLC lowered its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 24.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 171,687 shares of the company's stock after selling 54,359 shares during the period. Schonfeld Strategic Advisors LLC owned about 0.13% of Vestis worth $2,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Barclays PLC increased its stake in shares of Vestis by 445.4% during the 3rd quarter. Barclays PLC now owns 51,981 shares of the company's stock worth $774,000 after purchasing an additional 42,450 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Vestis during the third quarter worth $238,000. Franklin Resources Inc. raised its holdings in Vestis by 34.1% during the third quarter. Franklin Resources Inc. now owns 561,384 shares of the company's stock valued at $8,404,000 after buying an additional 142,854 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Vestis by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock worth $71,000 after buying an additional 710 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Vestis by 3.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock valued at $681,000 after acquiring an additional 1,735 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Stock Performance

Vestis stock traded up $0.84 during mid-day trading on Thursday, reaching $6.28. The company had a trading volume of 12,032,651 shares, compared to its average volume of 2,132,951. The company has a 50 day moving average of $9.28 and a 200-day moving average of $13.00. Vestis Co. has a 52 week low of $5.20 and a 52 week high of $17.83. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The firm has a market cap of $826.70 million, a price-to-earnings ratio of 78.45 and a beta of 1.61.

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

Analyst Ratings Changes

A number of brokerages have issued reports on VSTS. Robert W. Baird decreased their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Barclays decreased their price objective on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. Finally, The Goldman Sachs Group cut their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $13.00.

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.