Vestis Co. (NYSE:VSTS) Plans $0.04 Quarterly Dividend

Vestis Co. (NYSE:VSTS) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors of record on Friday, December 13th will be given a dividend of 0.035 per share on Monday, January 6th. This represents a $0.14 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 13th.

Vestis has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Vestis to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 19.2%.

Vestis Trading Up 2.6 %

VSTS traded up $0.40 during midday trading on Friday, reaching $16.02. The company had a trading volume of 2,815,854 shares, compared to its average volume of 2,139,790. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The business has a 50-day moving average price of $14.58 and a two-hundred day moving average price of $13.26. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VSTS shares. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday. The Goldman Sachs Group increased their price target on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research report on Friday. Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.43.

About Vestis

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.