A number of other equities research analysts have also weighed in on the company. Bank of America Corp. lowered V.F. Corp. from a buy rating to an underperform rating and dropped their price target for the stock from $73.00 to $54.00 in a research note on Thursday, September 15th. Wells Fargo & Co. restated a market perform rating and set a $58.00 price target (up previously from $57.00) on shares of V.F. Corp. in a research note on Monday, September 12th. They noted that the move was a valuation call. Buckingham Research lowered V.F. Corp. from a buy rating to a neutral rating and dropped their price target for the stock from $70.00 to $60.00 in a research note on Friday, September 2nd. Piper Jaffray Cos. restated a buy rating and set a $67.00 price target on shares of V.F. Corp. in a research note on Friday, July 22nd. Finally, Canaccord Genuity restated a buy rating and set a $82.00 price target on shares of V.F. Corp. in a research note on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. V.F. Corp. presently has an average rating of Hold and an average target price of $68.04.
Shares of V.F. Corp. (NYSE:VFC) opened at 54.71 on Friday. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 21.64 and a beta of 0.90. V.F. Corp. has a one year low of $52.21 and a one year high of $73.81. The firm’s 50-day moving average is $59.49 and its 200-day moving average is $62.09.
V.F. Corp. (NYSE:VFC) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. V.F. Corp. had a return on equity of 25.27% and a net margin of 8.82%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Equities research analysts forecast that V.F. Corp. will post $3.20 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Friday, September 9th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.71%. The ex-dividend date was Wednesday, September 7th. V.F. Corp.’s payout ratio is currently 58.73%.
In other V.F. Corp. news, Director Clarence Otis, Jr. sold 25,540 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $62.12, for a total value of $1,586,544.80. Following the completion of the sale, the director now directly owns 37,510 shares in the company, valued at approximately $2,330,121.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eric C. Wiseman sold 264,816 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $64.55, for a total value of $17,093,872.80. Following the completion of the sale, the chief executive officer now owns 756,198 shares of the company’s stock, valued at $48,812,580.90. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Glenmede Trust Co. NA boosted its stake in shares of V.F. Corp. by 30.3% in the first quarter. Glenmede Trust Co. NA now owns 25,706 shares of the company’s stock valued at $1,664,000 after buying an additional 5,984 shares during the last quarter. Aperio Group LLC boosted its stake in shares of V.F. Corp. by 16.4% in the first quarter. Aperio Group LLC now owns 114,822 shares of the company’s stock valued at $7,436,000 after buying an additional 16,157 shares during the last quarter. Virginia Retirement System bought a new stake in shares of V.F. Corp. during the first quarter valued at about $358,000. Ngam Advisors L.P. boosted its stake in shares of V.F. Corp. by 100.3% in the first quarter. Ngam Advisors L.P. now owns 37,193 shares of the company’s stock valued at $2,409,000 after buying an additional 18,620 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of V.F. Corp. by 1.9% in the first quarter. Prudential Financial Inc. now owns 447,088 shares of the company’s stock valued at $28,954,000 after buying an additional 8,290 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.
About V.F. Corp.
V.F. Corporation (VF) is engaged in the design, manufacturing, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear, Contemporary Brands and Other. The Company owns a portfolio of brands in the outerwear, footwear, denim, backpack, luggage, accessory, sportswear, occupational and performance apparel categories.
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