Focus Partners Wealth Sells 3,160 Shares of Vestis Co. (NYSE:VSTS)

Focus Partners Wealth reduced its position in Vestis Co. (NYSE:VSTS) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,052 shares of the company’s stock after selling 3,160 shares during the period. Focus Partners Wealth’s holdings in Vestis were worth $778,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Annex Advisory Services LLC lifted its holdings in shares of Vestis by 13.5% in the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock worth $4,479,000 after purchasing an additional 34,951 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Vestis in the 4th quarter worth $2,194,000. Proficio Capital Partners LLC bought a new position in shares of Vestis in the 4th quarter worth $185,000. Ieq Capital LLC lifted its holdings in shares of Vestis by 689.7% in the 4th quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock worth $2,449,000 after purchasing an additional 140,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Vestis by 17.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company’s stock worth $38,693,000 after purchasing an additional 382,071 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms recently commented on VSTS. Barclays lowered their price target on Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, May 9th. 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. Finally, The Goldman Sachs Group lowered their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.75.

Vestis Trading Down 0.7%

Shares of Vestis stock opened at $6.16 on Monday. Vestis Co. has a 1 year low of $5.20 and a 1 year high of $17.83. The firm has a market cap of $811.52 million, a PE ratio of 76.98 and a beta of 1.61. The stock has a fifty day moving average price of $8.59 and a 200-day moving average price of $12.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last announced its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share (EPS) 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 business had revenue of $665.25 million for the quarter, compared to analysts’ expectations of $690.81 million. The firm’s revenue was down 5.7% on a year-over-year basis. Equities research analysts anticipate that Vestis Co. will post 0.7 EPS for the current year.

Vestis Company 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.