V.F. Corp. (VFC) Coverage Initiated by Analysts at Guggenheim
Several other equities research analysts have also recently commented on the company. Susquehanna began coverage on V.F. Corp. in a research report on Thursday, September 15th. They set a neutral rating and a $55.00 price objective on the stock. Bank of America Corp. cut V.F. Corp. from a buy rating to an underperform rating and dropped their price objective for the company from $73.00 to $54.00 in a research report on Thursday, September 15th. Wells Fargo & Co. reaffirmed a market perform rating and set a $58.00 price objective (up 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. Canaccord Genuity reaffirmed a buy rating and set a $76.00 price objective on shares of V.F. Corp. in a research report on Sunday, September 11th. Finally, DA Davidson cut V.F. Corp. from a buy rating to a neutral rating and dropped their price objective for the company from $78.00 to $64.00 in a research report on Tuesday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. V.F. Corp. currently has an average rating of Hold and a consensus target price of $68.04.
V.F. Corp. (NYSE:VFC) opened at 56.05 on Friday. V.F. Corp. has a 12-month low of $52.21 and a 12-month high of $73.81. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 22.17 and a beta of 0.90. The firm’s 50-day moving average price is $60.20 and its 200-day moving average price is $62.34.
V.F. Corp. (NYSE:VFC) last released its earnings results on Friday, July 22nd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts predict that V.F. Corp. will post $3.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Friday, September 9th were paid a dividend of $0.37 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.48 annualized dividend and a yield of 2.64%. V.F. Corp.’s dividend payout ratio (DPR) is 58.73%.
In other V.F. Corp. news, Director Clarence Otis, Jr. sold 25,540 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $62.12, for a total transaction of $1,586,544.80. Following the sale, the director now owns 37,510 shares in the company, valued at approximately $2,330,121.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric C. Wiseman sold 264,816 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 756,198 shares in the company, valued at approximately $48,812,580.90. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of VFC. Zions Bancorporation increased its stake in V.F. Corp. by 8.0% in the first quarter. Zions Bancorporation now owns 2,475 shares of the company’s stock valued at $156,000 after buying an additional 183 shares during the last quarter. Oakworth Capital Inc. increased its stake in V.F. Corp. by 108.3% in the second quarter. Oakworth Capital Inc. now owns 2,674 shares of the company’s stock valued at $167,000 after buying an additional 1,390 shares during the last quarter. CLS Investments LLC purchased a new stake in V.F. Corp. during the first quarter valued at $199,000. WASHINGTON TRUST Co purchased a new stake in V.F. Corp. during the second quarter valued at $203,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in V.F. Corp. during the first quarter valued at $207,000. Institutional investors and hedge funds 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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