VF Corp (VFC) Expected to Post Quarterly Sales of $3.20 Billion

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Analysts expect VF Corp (NYSE:VFC) to announce sales of $3.20 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for VF’s earnings. The highest sales estimate is $3.23 billion and the lowest is $3.18 billion. VF reported sales of $3.05 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The business is expected to issue its next quarterly earnings report on Friday, May 3rd.

On average, analysts expect that VF will report full year sales of $13.82 billion for the current financial year, with estimates ranging from $13.79 billion to $13.87 billion. For the next fiscal year, analysts expect that the firm will post sales of $14.59 billion, with estimates ranging from $14.45 billion to $14.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for VF.

VF (NYSE:VFC) last released its earnings results on Friday, January 18th. The textile maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.21. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.87 billion. VF had a return on equity of 38.84% and a net margin of 10.11%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share.

A number of brokerages have weighed in on VFC. Wells Fargo & Co decreased their target price on VF from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, January 2nd. Guggenheim reiterated a “buy” rating and issued a $90.00 price target on shares of VF in a report on Friday, January 18th. Citigroup reiterated a “neutral” rating and issued a $85.00 price target (down from $90.00) on shares of VF in a report on Monday. Credit Suisse Group reiterated a “positive” rating on shares of VF in a report on Wednesday, January 16th. Finally, Piper Jaffray Companies set a $93.00 price target on VF and gave the company a “buy” rating in a report on Friday, January 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. VF currently has an average rating of “Buy” and a consensus price target of $91.95.

NYSE VFC traded up $0.45 during trading on Tuesday, hitting $86.51. 120,189 shares of the stock traded hands, compared to its average volume of 1,675,650. The stock has a market capitalization of $33.54 billion, a PE ratio of 29.03, a P/E/G ratio of 1.99 and a beta of 1.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 1.07. VF has a 12-month low of $67.18 and a 12-month high of $97.00.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.04 annualized dividend and a yield of 2.36%. VF’s dividend payout ratio (DPR) is 68.46%.

In related news, Director W Alan Mccollough sold 12,552 shares of the business’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $83.20, for a total transaction of $1,044,326.40. Following the transaction, the director now directly owns 27,742 shares in the company, valued at approximately $2,308,134.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Steven E. Rendle sold 65,988 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $85.91, for a total value of $5,669,029.08. Following the sale, the chairman now owns 236,514 shares in the company, valued at approximately $20,318,917.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 229,267 shares of company stock worth $19,577,926. 1.72% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its holdings in VF by 5,538.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,592,716 shares of the textile maker’s stock worth $106,000 after purchasing an additional 7,458,056 shares during the period. Bank of America Corp DE raised its holdings in VF by 182.3% in the 4th quarter. Bank of America Corp DE now owns 5,308,262 shares of the textile maker’s stock worth $378,691,000 after purchasing an additional 3,427,860 shares during the period. Norges Bank acquired a new position in VF in the 4th quarter worth about $236,808,000. FMR LLC raised its holdings in VF by 58.2% in the 3rd quarter. FMR LLC now owns 5,482,244 shares of the textile maker’s stock worth $512,315,000 after purchasing an additional 2,016,128 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in VF by 19.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,162,565 shares of the textile maker’s stock worth $388,991,000 after purchasing an additional 683,219 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

About VF

V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.

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