Vestis Co. (VSTS) to Issue Quarterly Dividend of $0.04 on January 6th

Vestis Co. (NYSE:VSTS) declared 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 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 13th.

Vestis has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Vestis to earn $0.92 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 15.2%.

Vestis Price Performance

VSTS stock opened at $16.02 on Friday. The firm has a market capitalization of $2.11 billion and a P/E ratio of 100.13. Vestis has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a quick ratio of 2.02, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $14.58 and a two-hundred day simple moving average of $13.26.

Analyst Upgrades and Downgrades

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