Russell Investments Group Ltd. Has $3.78 Million Stake in Vestis Corporation $VSTS

Russell Investments Group Ltd. reduced its stake in shares of Vestis Corporation (NYSE:VSTS) by 33.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 381,589 shares of the company’s stock after selling 190,036 shares during the period. Russell Investments Group Ltd. owned 0.29% of Vestis worth $3,778,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC bought a new position in Vestis during the 4th quarter worth $29,000. Spire Wealth Management raised its position in Vestis by 168.2% during the 1st quarter. Spire Wealth Management now owns 5,110 shares of the company’s stock worth $51,000 after purchasing an additional 3,205 shares during the last quarter. Copeland Capital Management LLC raised its position in Vestis by 33.0% during the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock worth $54,000 after purchasing an additional 1,346 shares during the last quarter. KBC Group NV raised its position in Vestis by 54.2% during the 1st quarter. KBC Group NV now owns 7,309 shares of the company’s stock worth $72,000 after purchasing an additional 2,568 shares during the last quarter. Finally, Bfsg LLC raised its position in Vestis by 128.2% during the 1st quarter. Bfsg LLC now owns 14,210 shares of the company’s stock worth $141,000 after purchasing an additional 7,984 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

Vestis Stock Performance

Shares of Vestis stock opened at $4.7550 on Friday. Vestis Corporation has a one year low of $4.32 and a one year high of $17.83. The firm has a market capitalization of $626.90 million, a price-to-earnings ratio of -20.67 and a beta of 0.96. The business has a 50-day simple moving average of $5.73 and a 200 day simple moving average of $7.97. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42.

Vestis (NYSE:VSTS) last issued its earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Vestis had a positive return on equity of 3.76% and a negative net margin of 1.11%.The business had revenue of $673.80 million during the quarter, compared to analyst estimates of $673.65 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on VSTS. Barclays lowered their target price on Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. lowered their target price on Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Vestis from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $9.13.

Insider Transactions at Vestis

In related news, Director Keith A. Meister acquired 314,390 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was purchased at an average cost of $6.03 per share, with a total value of $1,895,771.70. Following the acquisition, the director owned 18,803,899 shares of the company’s stock, valued at approximately $113,387,510.97. This trade represents a 1.70% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.60% of the company’s stock.

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.