Cwm LLC Boosts Stake in Vestis Co. (NYSE:VSTS)

Cwm LLC raised its position in Vestis Co. (NYSE:VSTS) by 1,958.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,817 shares of the company’s stock after buying an additional 4,583 shares during the period. Cwm LLC’s holdings in Vestis were worth $93,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in Vestis in the 4th quarter valued at about $3,909,000. Hsbc Holdings PLC acquired a new stake in shares of Vestis in the 4th quarter valued at about $4,646,000. Madison Avenue Partners LP grew its stake in Vestis by 1,124.5% in the fourth quarter. Madison Avenue Partners LP now owns 1,346,980 shares of the company’s stock worth $28,475,000 after purchasing an additional 1,236,980 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in Vestis by 48.0% in the fourth quarter. Wolverine Asset Management LLC now owns 185,000 shares of the company’s stock valued at $3,911,000 after buying an additional 60,000 shares during the last quarter. Finally, Boston Partners acquired a new stake in Vestis during the fourth quarter valued at approximately $11,994,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Up 1.9 %

Shares of NYSE VSTS opened at $12.05 on Monday. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37. The stock has a fifty day moving average price of $13.64 and a two-hundred day moving average price of $17.61. The company has a quick ratio of 2.16, a current ratio of 2.51 and a debt-to-equity ratio of 1.69.

Vestis (NYSE:VSTS) last announced its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.09). The company had revenue of $705.37 million during the quarter, compared to analyst estimates of $722.54 million. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities analysts forecast that Vestis Co. will post 0.59 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Friday, June 14th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, June 14th.

Insider Buying and Selling

In related news, Director James Phillip Holloman acquired 20,200 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $9.93 per share, for a total transaction of $200,586.00. Following the transaction, the director now owns 44,132 shares of the company’s stock, valued at $438,230.76. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director James Phillip Holloman acquired 20,200 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $9.93 per share, for a total transaction of $200,586.00. Following the acquisition, the director now owns 44,132 shares in the company, valued at $438,230.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Corvex Management Lp bought 622,346 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $10.43 per share, with a total value of $6,491,068.78. Following the completion of the acquisition, the insider now owns 16,591,833 shares of the company’s stock, valued at $173,052,818.19. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,830,779 shares of company stock worth $28,501,849.

Analyst Ratings Changes

VSTS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded Vestis from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $11.00 in a report on Friday, May 3rd. William Blair started coverage on Vestis in a research report on Friday, May 31st. They issued a “market perform” rating on the stock. Redburn Atlantic lowered shares of Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price target for the company. in a research report on Tuesday, May 7th. Robert W. Baird cut their price objective on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Barclays reduced their target price on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.38.

Vestis 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.