Deutsche Bank AG Sells 6,155 Shares of Vestis Co. (NYSE:VSTS)

Deutsche Bank AG trimmed its position in Vestis Co. (NYSE:VSTS) by 39.3% in the 4th quarter, Holdings Channel reports. The firm owned 9,526 shares of the company’s stock after selling 6,155 shares during the quarter. Deutsche Bank AG’s holdings in Vestis were worth $145,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Spire Wealth Management bought a new position in shares of Vestis in the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC increased its position in shares of Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Vestis in the fourth quarter worth approximately $93,000. Sterling Capital Management LLC increased its position in shares of Vestis by 45.9% in the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company’s stock worth $120,000 after purchasing an additional 2,479 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Vestis in the fourth quarter worth approximately $180,000. 97.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VSTS shares. Robert W. Baird decreased their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. The Goldman Sachs Group dropped their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Barclays dropped their price target on Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Vestis presently has an average rating of “Hold” and an average target price of $11.75.

Vestis Price Performance

VSTS opened at $6.40 on Wednesday. The stock has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $11.94. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company has a market cap of $843.41 million, a price-to-earnings ratio of 80.01 and a beta of 1.61. Vestis Co. has a 12-month low of $5.20 and a 12-month high of $17.83.

Vestis (NYSE:VSTS) last announced its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). Vestis had a net margin of 0.34% and a return on equity of 7.91%. The business had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. Research analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Keith A. Meister purchased 314,390 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was acquired at an average cost of $6.03 per share, for a total transaction of $1,895,771.70. Following the purchase, the director now directly owns 18,803,899 shares in the company, valued at $113,387,510.97. This trade represents a 1.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO William J. Seward purchased 10,000 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $6.23 per share, with a total value of $62,300.00. Following the completion of the purchase, the chief operating officer now owns 130,862 shares in the company, valued at approximately $815,270.26. This trade represents a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 880,675 shares of company stock worth $5,271,632 in the last quarter. Corporate insiders own 13.60% of the company’s stock.

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.