Piper Jaffray Cos. reaffirmed their overweight rating on shares of V.F. Corp. (NYSE:VFC) in a research report report published on Thursday. They currently have a $63.00 price target on the stock, down from their prior price target of $67.00.
A number of other equities research analysts have also recently issued reports on the stock. Guggenheim began coverage on shares of V.F. Corp. in a research note on Friday, September 30th. They issued a buy rating and a $65.00 price objective for the company. Susquehanna began coverage on shares of V.F. Corp. in a research note on Thursday, September 15th. They issued a neutral rating and a $55.00 price objective for the company. Bank of America Corp. cut shares of V.F. Corp. from a buy rating to an underperform rating and cut their price objective for the company from $73.00 to $54.00 in a research note on Thursday, September 15th. Wells Fargo & Co. reissued 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 report on Monday, September 12th. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a buy rating and set a $76.00 price target on shares of V.F. Corp. in a research report on Sunday, September 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. V.F. Corp. currently has an average rating of Hold and a consensus target price of $67.89.
Shares of V.F. Corp. (NYSE:VFC) opened at 54.14 on Thursday. The company has a market capitalization of $22.45 billion, a P/E ratio of 21.42 and a beta of 0.90. The stock’s 50 day moving average is $57.25 and its 200 day moving average is $61.50. V.F. Corp. has a 52-week low of $52.21 and a 52-week high of $73.81.
V.F. Corp. (NYSE:VFC) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. V.F. Corp. had a net margin of 8.82% and a return on equity of 25.27%. The company earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s revenue was up .8% on a year-over-year basis. Equities analysts expect that V.F. Corp. will post $3.20 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Friday, September 9th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Wednesday, September 7th. V.F. Corp.’s payout ratio is 58.73%.
In related news, Director Clarence Otis, Jr. sold 25,540 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $62.12, for a total value of $1,586,544.80. Following the transaction, the director now owns 37,510 shares of the company’s stock, valued at $2,330,121.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric C. Wiseman sold 264,816 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $64.55, for a total transaction of $17,093,872.80. Following the completion of the transaction, the chief executive officer now directly owns 756,198 shares in the company, valued at approximately $48,812,580.90. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Zions Bancorporation increased its position in V.F. Corp. by 8.0% in the first quarter. Zions Bancorporation now owns 2,475 shares of the company’s stock worth $156,000 after buying an additional 183 shares during the last quarter. Oakworth Capital Inc. increased its position in V.F. Corp. by 108.3% in the second quarter. Oakworth Capital Inc. now owns 2,674 shares of the company’s stock worth $167,000 after buying an additional 1,390 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in V.F. Corp. during the second quarter worth about $203,000. Stone Ridge Asset Management LLC acquired a new position in V.F. Corp. during the first quarter worth about $207,000. Finally, Checchi Capital Advisers LLC increased its position in V.F. Corp. by 16.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the company’s stock worth $226,000 after buying an additional 519 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.
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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