Vestis Co. (NYSE:VSTS) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its holdings in Vestis Co. (NYSE:VSTS) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,287 shares of the company’s stock after selling 9,689 shares during the period. Ameriprise Financial Inc. owned about 0.32% of Vestis worth $6,512,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Vestis in the 4th quarter worth approximately $2,194,000. Proficio Capital Partners LLC acquired a new position in shares of Vestis in the fourth quarter worth about $185,000. Ieq Capital LLC boosted its holdings in shares of Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock worth $2,449,000 after buying an additional 140,324 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $38,693,000 after buying an additional 382,071 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in shares of Vestis during the fourth quarter worth approximately $210,766,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insiders Place Their Bets

In other Vestis news, COO William J. Seward acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $6.23 per share, with a total value of $62,300.00. Following the transaction, the chief operating officer now owns 130,862 shares of the company’s stock, valued at approximately $815,270.26. This trade represents a 8.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas A. Pertz purchased 70,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the purchase, the director now directly owns 297,010 shares of the company’s stock, valued at approximately $1,832,551.70. This trade represents a 30.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on VSTS shares. Robert W. Baird decreased their price target on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group decreased 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 target on shares of Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.75.

Vestis Price Performance

NYSE VSTS opened at $5.75 on Friday. 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 stock has a market capitalization of $757.75 million, a PE ratio of 71.88 and a beta of 1.61. The company has a 50 day moving average price of $8.19 and a two-hundred day moving average price of $12.39. Vestis Co. has a 12-month low of $5.20 and a 12-month high of $17.83.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a net margin of 0.34% and a return on equity of 7.91%. The company had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

About Vestis

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.