Canaccord Genuity Analysts Give V.F. Corp. (VFC) a $32.00 Price Target
V.F. Corp. (NYSE:VFC) has been assigned a $32.00 price target by Canaccord Genuity in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity’s target price indicates a potential downside of 43.75% from the company’s previous close.
Several other research firms also recently weighed in on VFC. Telsey Advisory Group lowered their price objective on shares of V.F. Corp. from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Tuesday, October 25th. Guggenheim initiated coverage on shares of V.F. Corp. in a report on Friday, September 30th. They set a “buy” rating and a $65.00 price objective on the stock. B. Riley reiterated a “neutral” rating and issued a $56.00 target price on shares of V.F. Corp. in a research note on Monday, October 24th. Wells Fargo & Co. reiterated a “market perform” rating and issued a $58.00 target price (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. Finally, Deutsche Bank AG lowered shares of V.F. Corp. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $63.00 to $57.00 in a research note on Tuesday, October 25th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. V.F. Corp. presently has an average rating of “Hold” and a consensus target price of $63.91.
V.F. Corp. (NYSE:VFC) traded down 2.02% during midday trading on Monday, hitting $55.74. 1,334,812 shares of the company traded hands. The stock’s 50-day moving average is $55.08 and its 200-day moving average is $59.69. V.F. Corp. has a 12-month low of $51.76 and a 12-month high of $67.10. The firm has a market capitalization of $23.06 billion, a PE ratio of 21.16 and a beta of 0.84.
V.F. Corp. (NYSE:VFC) last released its quarterly earnings data on Monday, October 24th. The company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.05. V.F. Corp. had a net margin of 9.23% and a return on equity of 26.26%. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Analysts anticipate that V.F. Corp. will post $3.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Friday, December 9th will be given a dividend of $0.42 per share. This is a boost from V.F. Corp.’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, December 7th. V.F. Corp.’s dividend payout ratio (DPR) is presently 56.06%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Amica Retiree Medical Trust acquired a new position in shares of V.F. Corp. during the third quarter worth approximately $128,000. Jacobus Wealth Management Inc. acquired a new position in shares of V.F. Corp. during the third quarter worth approximately $129,000. Oakworth Capital Inc. boosted its position 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 last quarter. Trust Co. of Vermont boosted its position in shares of V.F. Corp. by 3.8% in the third quarter. Trust Co. of Vermont now owns 3,572 shares of the company’s stock worth $200,000 after buying an additional 132 shares during the last quarter. Finally, WASHINGTON TRUST Co acquired a new position in shares of V.F. Corp. during the second quarter worth approximately $203,000. Institutional investors and hedge funds own 84.03% 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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