Healthcare of Ontario Pension Plan Trust Fund Buys New Holdings in Vestis Co. (NYSE:VSTS)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Vestis Co. (NYSE:VSTS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 200,000 shares of the company’s stock, valued at approximately $3,854,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.15% of Vestis at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. UniSuper Management Pty Ltd purchased a new position in shares of Vestis during the first quarter worth $517,000. Lord Abbett & CO. LLC acquired a new stake in shares of Vestis in the first quarter valued at approximately $7,364,000. Everence Capital Management Inc. acquired a new stake in Vestis during the first quarter worth about $233,000. Sei Investments Co. boosted its holdings in Vestis by 22.7% in the 1st quarter. Sei Investments Co. now owns 115,628 shares of the company’s stock valued at $2,228,000 after purchasing an additional 21,414 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Vestis in the 1st quarter valued at approximately $1,457,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Trading Up 1.0 %

Shares of VSTS opened at $12.52 on Friday. The company’s 50-day simple moving average is $12.10 and its 200-day simple moving average is $16.31. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.51 and a quick ratio of 2.16. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37.

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 for the quarter, compared to analysts’ expectations of $722.54 million. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts forecast that Vestis Co. will post 0.59 EPS for the current year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Friday, June 14th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.12%.

Insider Buying and Selling

In related news, major shareholder Corvex Management Lp purchased 116,044 shares of Vestis stock in a transaction on Monday, May 20th. The shares were bought at an average price of $12.59 per share, with a total value of $1,460,993.96. Following the transaction, the insider now directly owns 16,707,877 shares of the company’s stock, valued at $210,352,171.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Vestis news, Director James Phillip Holloman bought 20,200 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $9.93 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Corvex Management Lp purchased 116,044 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were bought at an average price of $12.59 per share, for a total transaction of $1,460,993.96. Following the completion of the purchase, the insider now directly owns 16,707,877 shares in the company, valued at $210,352,171.43. The disclosure for this purchase can be found here. Insiders purchased 2,830,779 shares of company stock valued at $28,501,849 in the last three months.

Analyst Ratings Changes

Several analysts have recently commented on VSTS shares. Barclays reduced their price target on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $11.00 in a research note on Friday, May 3rd. Redburn Atlantic downgraded Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price objective for the company. in a research report on Tuesday, May 7th. Robert W. Baird decreased their target price 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, The Goldman Sachs Group lowered their target price on shares of Vestis from $20.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.