FY2016 EPS Estimates for V.F. Corp. (VFC) Cut by Analyst
V.F. Corp. (NYSE:VFC) – Research analysts at DA Davidson lowered their FY2016 earnings per share estimates for shares of V.F. Corp. in a note issued to investors on Wednesday. DA Davidson analyst A. Burns now expects that the brokerage will earn $3.16 per share for the year, down from their previous estimate of $3.20. DA Davidson currently has a “Neutral” rating and a $64.00 price objective on the stock. DA Davidson also issued estimates for V.F. Corp.’s Q4 2016 earnings at $1.08 EPS and FY2017 earnings at $3.53 EPS.
V.F. Corp. (NYSE:VFC) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.53 billion. V.F. Corp. had a net margin of 8.82% and a return on equity of 25.27%. V.F. Corp.’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share.
VFC has been the subject of a number of other reports. Guggenheim initiated coverage on V.F. Corp. in a research note on Friday, September 30th. They set a “buy” rating and a $65.00 price target for the company. 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. Buckingham Research cut V.F. Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $60.00 in a research report on Friday, September 2nd. 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. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $63.00 price objective (down from $67.00) on shares of V.F. Corp. in a research report on Thursday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. V.F. Corp. has a consensus rating of “Hold” and a consensus target price of $67.89.
V.F. Corp. (NYSE:VFC) opened at 54.60 on Friday. V.F. Corp. has a 12 month low of $52.21 and a 12 month high of $73.81. The firm’s 50-day moving average is $57.53 and its 200-day moving average is $61.62. The company has a market capitalization of $22.64 billion, a PE ratio of 21.60 and a beta of 0.90.
The company 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 dividend yield of 2.71%. The ex-dividend date of this dividend was Wednesday, September 7th. V.F. Corp.’s dividend payout ratio is 58.73%.
In related news, CEO Eric C. Wiseman sold 264,816 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 756,198 shares in the company, valued at approximately $48,812,580.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the director now owns 37,510 shares of the company’s stock, valued at $2,330,121.20. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Zions Bancorporation boosted its stake in shares of 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 period. Oakworth Capital Inc. boosted its stake in shares of 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 period. Stone Ridge Asset Management LLC bought a new stake in shares of V.F. Corp. during the first quarter worth $207,000. WASHINGTON TRUST Co bought a new stake in shares of V.F. Corp. during the second quarter worth $203,000. Finally, Checchi Capital Advisers LLC boosted its stake in shares of 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 period. Hedge funds and other institutional investors own 98.99% of the company’s stock.
V.F. Corp. Company Profile
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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