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

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 paid a dividend of 0.035 per share on Monday, January 6th. This represents a $0.14 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, December 13th.

Vestis has a dividend payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Vestis stock traded up $0.40 during trading hours on Friday, hitting $16.02. The stock had a trading volume of 2,815,854 shares, compared to its average volume of 2,139,790. The stock’s 50-day moving average price is $14.58 and its 200-day moving average price is $13.26. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. 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 analysts have commented on VSTS shares. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Thursday, August 8th. The Goldman Sachs Group upped their target price on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays raised 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, Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.43.

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.