Northern Trust Corp Has $9.17 Million Stock Holdings in Vestis Corporation $VSTS

Northern Trust Corp decreased its position in Vestis Corporation (NYSE:VSTS) by 13.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 926,631 shares of the company’s stock after selling 141,065 shares during the period. Northern Trust Corp owned approximately 0.70% of Vestis worth $9,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund grew its holdings in shares of Vestis by 7.3% in the 1st quarter. New York State Common Retirement Fund now owns 368,747 shares of the company’s stock valued at $3,651,000 after buying an additional 25,044 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Vestis in the 1st quarter valued at $637,000. Lord Abbett & CO. LLC grew its holdings in shares of Vestis by 27.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 638,134 shares of the company’s stock valued at $6,318,000 after buying an additional 137,243 shares during the period. Nuveen LLC acquired a new position in shares of Vestis in the 1st quarter valued at $2,746,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Vestis in the 1st quarter valued at $1,756,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Trading Up 1.4%

Shares of NYSE:VSTS opened at $4.58 on Friday. The company’s 50-day moving average price is $5.46 and its two-hundred day moving average price is $7.34. 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 Corporation has a one year low of $4.32 and a one year high of $17.83. The stock has a market capitalization of $603.17 million, a PE ratio of -19.89 and a beta of 0.97.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $673.80 million for the quarter, compared to analysts’ expectations of $673.65 million. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. On average, equities analysts forecast that Vestis Corporation will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

VSTS has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a report on Thursday, August 7th. 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. Finally, Wall Street Zen raised shares of Vestis from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $9.13.

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.