Vestis Co. (NYSE:VSTS) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its position in shares of Vestis Co. (NYSE:VSTS) by 21.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,869,232 shares of the company’s stock after selling 516,883 shares during the quarter. Janus Henderson Group PLC owned about 1.42% of Vestis worth $36,020,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in VSTS. Parkside Financial Bank & Trust acquired a new position in shares of Vestis during the fourth quarter worth approximately $25,000. Daiwa Securities Group Inc. bought a new position in Vestis in the 4th quarter valued at about $34,000. TFO Wealth Partners LLC acquired a new position in Vestis during the 4th quarter valued at about $42,000. Wahed Invest LLC bought a new stake in shares of Vestis during the 4th quarter worth about $42,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Vestis in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insider Activity

In other Vestis news, major shareholder Corvex Management Lp purchased 1,828,009 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $9.54 per share, with a total value of $17,439,205.86. Following the completion of the purchase, the insider now directly owns 14,973,187 shares in the company, valued at approximately $142,844,203.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Douglas A. Pertz acquired 54,468 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $11.99 per share, with a total value of $653,071.32. Following the completion of the transaction, the director now directly owns 195,604 shares of the company’s stock, valued at $2,345,291.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Corvex Management Lp bought 1,828,009 shares of Vestis stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $9.54 per share, with a total value of $17,439,205.86. Following the transaction, the insider now owns 14,973,187 shares of the company’s stock, valued at approximately $142,844,203.98. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 2,830,779 shares of company stock valued at $28,501,849.

Vestis Trading Down 0.3 %

NYSE:VSTS traded down $0.04 during mid-day trading on Wednesday, hitting $12.72. The company’s stock had a trading volume of 343,153 shares, compared to its average volume of 2,218,724. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51. The stock has a fifty day moving average of $12.11 and a 200-day moving average of $16.07. Vestis Co. has a fifty-two week low of $8.92 and a fifty-two week high of $22.37.

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

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th were given a dividend of $0.035 per share. The ex-dividend date was Friday, June 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.10%.

Analyst Ratings Changes

Several research analysts recently weighed in on VSTS shares. Redburn Atlantic cut Vestis from a “buy” rating to a “neutral” rating and set a $13.40 target price for the company. in a research note on Tuesday, May 7th. JPMorgan Chase & Co. cut shares of Vestis from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $11.00 in a report on Friday, May 3rd. William Blair began coverage on shares of Vestis in a research note on Friday, May 31st. They set a “market perform” rating on the stock. The Goldman Sachs Group dropped their target price on Vestis from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Barclays decreased their price target on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.38.

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.