Deutsche Bank AG Has $145,000 Stock Holdings in Vestis Co. (NYSE:VSTS)

Deutsche Bank AG trimmed its position in shares of Vestis Co. (NYSE:VSTS) by 39.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,526 shares of the company’s stock after selling 6,155 shares during the quarter. Deutsche Bank AG’s holdings in Vestis were worth $145,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Spire Wealth Management acquired a new position in Vestis during the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its stake in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares during the last quarter. Quantbot Technologies LP acquired a new position in Vestis during the 4th quarter valued at about $93,000. Sterling Capital Management LLC boosted its stake in Vestis by 45.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,882 shares of the company’s stock valued at $120,000 after purchasing an additional 2,479 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Vestis in the 4th quarter valued at $180,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Trading Up 1.1%

Shares of VSTS opened at $6.40 on Wednesday. The business has a 50-day moving average of $7.53 and a 200 day moving average of $11.94. Vestis Co. has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The firm has a market cap of $843.41 million, a P/E ratio of 80.01 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS) last issued its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). The business had revenue of $665.25 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. As a group, research analysts forecast that Vestis Co. will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VSTS shares. Robert W. Baird lowered their price target 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 lowered their target price 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. Finally, The Goldman Sachs Group lowered their target price 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. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.75.

Insiders Place Their Bets

In related news, Director Keith A. Meister acquired 377,277 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $5.89 per share, for a total transaction of $2,222,161.53. Following the purchase, the director now owns 18,380,501 shares in the company, valued at $108,261,150.89. This trade represents a 2.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas A. Pertz bought 70,000 shares of Vestis stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, with a total value of $431,900.00. Following the acquisition, the director now directly owns 297,010 shares in the company, valued at approximately $1,832,551.70. This represents a 30.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 880,675 shares of company stock worth $5,271,632 over the last quarter. 13.60% of the stock is currently owned by company insiders.

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.