V.F. Corporation (VFC) Expected to Announce Quarterly Sales of $3.41 Billion
Equities analysts expect V.F. Corporation (NYSE:VFC) to post $3.41 billion in sales for the current quarter, Zacks reports. Sixteen analysts have issued estimates for V.F. Corporation’s earnings, with the lowest sales estimate coming in at $3.34 billion and the highest estimate coming in at $3.47 billion. V.F. Corporation posted sales of $3.46 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The company is expected to announce its next quarterly earnings results before the market opens on Monday, October 23rd.
According to Zacks, analysts expect that V.F. Corporation will report full-year sales of $3.41 billion for the current year, with estimates ranging from $11.82 billion to $11.86 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $12.35 billion per share, with estimates ranging from $11.68 billion to $13.13 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow V.F. Corporation.
V.F. Corporation (NYSE:VFC) last released its earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS.
Several research analysts have commented on VFC shares. Stifel Nicolaus restated a “hold” rating and issued a $60.00 target price on shares of V.F. Corporation in a research report on Wednesday. Forward View reaffirmed a “hold” rating on shares of V.F. Corporation in a report on Tuesday, August 15th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $75.00 price target (up previously from $70.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Piper Jaffray Companies set a $58.00 price target on V.F. Corporation and gave the company a “hold” rating in a report on Monday, August 14th. Finally, Buckingham Research boosted their price objective on V.F. Corporation from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $60.74.
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Shares of V.F. Corporation (NYSE VFC) opened at 64.08 on Wednesday. V.F. Corporation has a 12-month low of $48.05 and a 12-month high of $64.61. The stock has a 50 day moving average price of $62.97 and a 200 day moving average price of $57.86. The firm has a market capitalization of $25.22 billion, a PE ratio of 24.45 and a beta of 0.77.
The business also recently declared a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Friday, September 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.62%. V.F. Corporation’s dividend payout ratio is currently 64.86%.
In related news, Director W Alan Mccollough sold 22,852 shares of V.F. Corporation stock in a transaction on Monday, August 21st. The stock was sold at an average price of $62.94, for a total value of $1,438,304.88. Following the transaction, the director now directly owns 36,353 shares in the company, valued at approximately $2,288,057.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Eric C. Wiseman sold 290,021 shares of V.F. Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $63.15, for a total value of $18,314,826.15. Following the completion of the transaction, the chairman now owns 552,426 shares in the company, valued at $34,885,701.90. The disclosure for this sale can be found here. Insiders have sold a total of 453,152 shares of company stock valued at $28,649,326 in the last quarter. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Orrstown Financial Services Inc. boosted its position in shares of V.F. Corporation by 9.2% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock valued at $103,000 after purchasing an additional 150 shares during the period. WFG Advisors LP increased its stake in V.F. Corporation by 7.4% in the 1st quarter. WFG Advisors LP now owns 2,480 shares of the textile maker’s stock worth $136,000 after purchasing an additional 170 shares in the last quarter. Zions Bancorporation increased its stake in V.F. Corporation by 1.5% in the 1st quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock worth $140,000 after purchasing an additional 38 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in V.F. Corporation in the 1st quarter worth about $148,000. Finally, Pathstone Family Office LLC purchased a new position in V.F. Corporation in the 1st quarter worth about $187,000.
About V.F. Corporation
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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