Jacobs Levy Equity Management Inc. Acquires 59,824 Shares of Vestis Co. (NYSE:VSTS)

Jacobs Levy Equity Management Inc. increased its holdings in Vestis Co. (NYSE:VSTS) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,691,476 shares of the company’s stock after purchasing an additional 59,824 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 2.04% of Vestis worth $41,018,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in Vestis by 445.4% in the third quarter. Barclays PLC now owns 51,981 shares of the company’s stock valued at $774,000 after buying an additional 42,450 shares during the period. Franklin Resources Inc. lifted its holdings in Vestis by 34.1% in the third quarter. Franklin Resources Inc. now owns 561,384 shares of the company’s stock valued at $8,404,000 after buying an additional 142,854 shares during the period. GAMMA Investing LLC lifted its holdings in Vestis by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after buying an additional 710 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Vestis by 3.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock valued at $681,000 after buying an additional 1,735 shares during the period. Finally, Pallas Capital Advisors LLC lifted its holdings in Vestis by 13.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 26,868 shares of the company’s stock valued at $409,000 after buying an additional 3,287 shares during the period. Institutional investors own 97.40% of the company’s stock.

Vestis Price Performance

Shares of NYSE VSTS opened at $6.29 on Monday. The firm’s 50-day moving average price is $9.08 and its 200-day moving average price is $12.86. Vestis Co. has a 1-year low of $5.20 and a 1-year high of $17.83. The firm has a market capitalization of $828.92 million, a P/E ratio of 78.63 and a beta of 1.61. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS) last announced its quarterly earnings data 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 analyst estimates of $690.81 million. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities research analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vestis news, Director Douglas A. Pertz bought 70,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the acquisition, the director now directly owns 297,010 shares of the company’s stock, valued at approximately $1,832,551.70. The trade was a 30.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on VSTS. The Goldman Sachs Group dropped their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Barclays dropped their target price on shares of Vestis from $10.00 to $5.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Robert W. Baird dropped their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.75.

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.