V.F. Corporation (VFC) Receives New Coverage from Analysts at Pivotal Research
Pivotal Research started coverage on shares of V.F. Corporation (NYSE:VFC) in a research report released on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $75.00 price target on the textile maker’s stock.
Other analysts have also issued research reports about the stock. TheStreet upgraded shares of V.F. Corporation from a c+ rating to a b- rating in a research note on Thursday, July 13th. Canaccord Genuity upgraded shares of V.F. Corporation from a hold rating to a buy rating and lifted their price target for the stock from $58.00 to $73.00 in a research note on Monday, August 14th. UBS AG lifted their price target on shares of V.F. Corporation from $59.00 to $66.00 and gave the stock a buy rating in a research note on Tuesday, July 25th. Forward View restated a hold rating on shares of V.F. Corporation in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus restated a hold rating and issued a $60.00 price target (up previously from $57.00) on shares of V.F. Corporation in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. V.F. Corporation presently has a consensus rating of Hold and an average price target of $61.45.
Shares of V.F. Corporation (NYSE:VFC) opened at 65.65 on Thursday. The firm has a 50 day moving average of $63.09 and a 200-day moving average of $58.04. V.F. Corporation has a 12 month low of $48.05 and a 12 month high of $65.71. The stock has a market capitalization of $25.84 billion, a P/E ratio of 25.05 and a beta of 0.77.
V.F. Corporation (NYSE:VFC) last issued its quarterly earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. V.F. Corporation had a net margin of 9.23% and a return on equity of 27.44%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Analysts forecast that V.F. Corporation will post $2.98 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Friday, September 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, September 7th. V.F. Corporation’s payout ratio is currently 64.86%.
In related news, Chairman Eric C. Wiseman sold 110,943 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $63.65, for a total value of $7,061,521.95. Following the completion of the sale, the chairman now owns 660,806 shares of the company’s stock, valued at $42,060,301.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eric C. Wiseman sold 290,021 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $63.15, for a total transaction of $18,314,826.15. Following the completion of the sale, the chairman now directly owns 552,426 shares of the company’s stock, valued at approximately $34,885,701.90. The disclosure for this sale can be found here. Insiders sold 453,152 shares of company stock valued at $28,649,326 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of VFC. BlackRock Inc. lifted its holdings in V.F. Corporation by 1,744.1% in the first quarter. BlackRock Inc. now owns 19,467,773 shares of the textile maker’s stock worth $1,070,143,000 after purchasing an additional 18,412,097 shares during the period. Wellington Management Group LLP lifted its holdings in V.F. Corporation by 13.9% in the first quarter. Wellington Management Group LLP now owns 33,920,937 shares of the textile maker’s stock worth $1,864,633,000 after purchasing an additional 4,129,477 shares during the period. Victory Capital Management Inc. lifted its holdings in V.F. Corporation by 12,957.2% in the first quarter. Victory Capital Management Inc. now owns 2,675,683 shares of the textile maker’s stock worth $147,083,000 after purchasing an additional 2,655,191 shares during the period. Eaton Vance Management lifted its holdings in V.F. Corporation by 1,249.7% in the second quarter. Eaton Vance Management now owns 930,352 shares of the textile maker’s stock worth $53,588,000 after purchasing an additional 861,421 shares during the period. Finally, Gotham Asset Management LLC acquired a new stake in V.F. Corporation in the first quarter worth about $36,383,000.
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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