Vestis Co. (NYSE:VSTS) to Issue Quarterly Dividend of $0.04

Vestis Co. (NYSE:VSTS) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th.

Vestis has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 3.3 %

NYSE VSTS traded up $0.52 during trading on Friday, hitting $16.14. The stock had a trading volume of 1,998,605 shares, compared to its average volume of 2,136,190. Vestis has a one year low of $8.92 and a one year high of $22.37. The stock has a 50 day simple moving average of $14.58 and a 200 day simple moving average 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.

Analysts Set New Price Targets

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