Capital Fund Management S.A. Buys 304,197 Shares of Vestis Corporation $VSTS

Capital Fund Management S.A. increased its stake in Vestis Corporation (NYSE:VSTS) by 324.0% in the second quarter, HoldingsChannel reports. The fund owned 398,083 shares of the company’s stock after purchasing an additional 304,197 shares during the period. Capital Fund Management S.A.’s holdings in Vestis were worth $2,281,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VSTS. Alberta Investment Management Corp grew its position in Vestis by 57.7% during the 2nd quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock worth $55,535,000 after acquiring an additional 3,547,000 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Vestis by 49.4% during the first quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company’s stock valued at $45,950,000 after purchasing an additional 1,544,001 shares during the period. Vision One Management Partners LP grew its holdings in shares of Vestis by 57.0% in the first quarter. Vision One Management Partners LP now owns 3,309,017 shares of the company’s stock worth $32,759,000 after purchasing an additional 1,201,458 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Vestis by 45.3% in the second quarter. Geode Capital Management LLC now owns 2,731,391 shares of the company’s stock worth $15,652,000 after buying an additional 851,208 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Vestis by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,582,601 shares of the company’s stock valued at $25,568,000 after buying an additional 43,719 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Price Performance

Shares of NYSE VSTS opened at $6.37 on Thursday. Vestis Corporation has a 1 year low of $3.98 and a 1 year high of $17.83. The stock has a market capitalization of $840.22 million, a P/E ratio of -20.56 and a beta of 0.78. The company’s 50-day moving average is $5.30 and its 200 day moving average is $5.41. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.42.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Monday, December 1st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.13). Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The firm had revenue of $712.01 million for the quarter, compared to the consensus estimate of $690.65 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Vestis Corporation will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VSTS. Robert W. Baird raised their price target on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen upgraded shares of Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised their target price on Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group increased their price objective on Vestis from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $5.95.

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.