V.F. Corporation (NYSE:VFC) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS
V.F. Corporation (NYSE:VFC) released its quarterly earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01, Bloomberg Earnings reports. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. V.F. Corporation updated its FY17 guidance to $2.94 EPS.
V.F. Corporation (NYSE:VFC) traded down 0.49% during mid-day trading on Friday, reaching $62.78. The company’s stock had a trading volume of 2,642,098 shares. V.F. Corporation has a one year low of $48.05 and a one year high of $65.20. The stock has a market cap of $24.71 billion, a P/E ratio of 23.95 and a beta of 0.78. The firm’s 50 day moving average is $59.88 and its 200-day moving average is $55.33.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.68 annualized dividend and a yield of 2.68%. V.F. Corporation’s payout ratio is 64.86%.
A number of research analysts have recently issued reports on the company. Bank of America Corporation reaffirmed an “underperform” rating and set a $50.00 price objective (up from $47.00) on shares of V.F. Corporation in a research note on Tuesday. Cowen and Company reaffirmed a “hold” rating on shares of V.F. Corporation in a research note on Thursday. Piper Jaffray Companies set a $58.00 price objective on V.F. Corporation and gave the company a “hold” rating in a research note on Monday, August 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 price objective (up from $57.00) on shares of V.F. Corporation in a research note on Monday, August 14th. Finally, Forward View reaffirmed a “hold” rating on shares of V.F. Corporation in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. V.F. Corporation has a consensus rating of “Hold” and an average target price of $60.15.
Several institutional investors have recently added to or reduced their stakes in VFC. Orrstown Financial Services Inc. increased its position in V.F. Corporation by 9.2% in the second quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock worth $103,000 after buying an additional 150 shares in the last quarter. TrimTabs Asset Management LLC acquired a new position in V.F. Corporation during the first quarter worth about $121,000. WFG Advisors LP increased its position in V.F. Corporation by 7.4% in the first quarter. WFG Advisors LP now owns 2,480 shares of the textile maker’s stock worth $136,000 after buying an additional 170 shares in the last quarter. Zions Bancorporation increased its position in V.F. Corporation by 1.5% in the first quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock worth $140,000 after buying an additional 38 shares in the last quarter. Finally, Crestwood Advisors Group LLC acquired a new position in V.F. Corporation during the first quarter worth about $141,000.
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V.F. Corporation Company Profile
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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