Oak Thistle LLC Has $241,000 Holdings in Vestis Co. (NYSE:VSTS)

Oak Thistle LLC lowered its stake in shares of Vestis Co. (NYSE:VSTS) by 69.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 12,484 shares of the company’s stock after selling 27,823 shares during the period. Oak Thistle LLC’s holdings in Vestis were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSTS. Parkside Financial Bank & Trust bought a new position in Vestis during the fourth quarter valued at about $25,000. Sound Income Strategies LLC bought a new stake in shares of Vestis in the 4th quarter worth approximately $25,000. Daiwa Securities Group Inc. purchased a new position in Vestis in the fourth quarter valued at approximately $34,000. Wahed Invest LLC bought a new position in Vestis during the fourth quarter valued at $42,000. Finally, TFO Wealth Partners LLC purchased a new stake in Vestis in the fourth quarter worth $42,000. 97.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VSTS has been the subject of several recent research reports. Stifel Nicolaus reiterated a “hold” rating on shares of Vestis in a research note on Friday, May 3rd. Redburn Atlantic cut shares of Vestis from a “buy” rating to a “neutral” rating and set a $13.40 target price on the stock. in a report on Tuesday, May 7th. Robert W. Baird cut their price target on Vestis from $24.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $11.00 in a research note on Friday, May 3rd. Finally, Barclays cut their target price on Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.38.

Vestis Trading Down 4.7 %

Shares of VSTS traded down $0.58 during mid-day trading on Monday, hitting $11.65. 2,173,998 shares of the stock were exchanged, compared to its average volume of 2,285,371. 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 Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The firm has a 50-day moving average of $12.84 and a two-hundred day moving average of $17.32.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 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 the consensus estimate of $722.54 million. The business’s quarterly revenue was up .9% compared to the same quarter last year. Analysts forecast that Vestis Co. will post 0.59 EPS for the current fiscal year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, June 14th.

Insider Activity

In other Vestis news, Director Williams Ena Koschel bought 8,500 shares of Vestis stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $12.27 per share, with a total value of $104,295.00. Following the transaction, the director now directly owns 29,266 shares of the company’s stock, valued at approximately $359,093.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vestis news, Director Williams Ena Koschel bought 8,500 shares of Vestis stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $12.27 per share, with a total value of $104,295.00. Following the completion of the acquisition, the director now directly owns 29,266 shares in the company, valued at approximately $359,093.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corvex Management Lp bought 1,828,009 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $9.54 per share, for a total transaction of $17,439,205.86. Following the completion of the acquisition, the insider now owns 14,973,187 shares of the company’s stock, valued at $142,844,203.98. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,830,779 shares of company stock worth $28,501,849.

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.