V.F. Corporation (VFC) Lowered to “Hold” at Canaccord Genuity
Canaccord Genuity lowered shares of V.F. Corporation (NYSE:VFC) from a buy rating to a hold rating in a research report report published on Thursday morning. The firm currently has $54.00 price objective on the stock, down from their prior price objective of $64.00.
A number of other equities analysts also recently commented on the company. Piper Jaffray Companies downgraded V.F. Corporation from an overweight rating to a neutral rating and reduced their price objective for the stock from $58.00 to $56.00 in a research report on Tuesday, January 3rd. Brean Capital reiterated a hold rating and set a $58.00 price objective on shares of V.F. Corporation in a research report on Monday, November 28th. B. Riley reiterated a neutral rating and set a $56.00 price objective on shares of V.F. Corporation in a research report on Saturday, October 29th. Buckingham Research reiterated a neutral rating and set a $58.00 price objective (down previously from $60.00) on shares of V.F. Corporation in a research report on Wednesday, October 26th. Finally, Telsey Advisory Group reduced their price objective on V.F. Corporation from $70.00 to $68.00 and set an outperform rating on the stock in a research report on Tuesday, October 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. V.F. Corporation has a consensus rating of Hold and an average target price of $64.59.
Shares of V.F. Corporation (NYSE:VFC) traded down 0.96% during midday trading on Thursday, hitting $51.33. The company’s stock had a trading volume of 2,967,162 shares. V.F. Corporation has a 12-month low of $51.08 and a 12-month high of $67.10. The firm has a 50-day moving average of $54.66 and a 200 day moving average of $57.97. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 19.49 and a beta of 0.82.
V.F. Corporation (NYSE:VFC) last released its earnings results on Monday, October 24th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.05. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.63 billion. V.F. Corporation had a return on equity of 26.26% and a net margin of 9.23%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. On average, equities research analysts predict that V.F. Corporation will post $3.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Friday, December 9th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.27%. This is an increase from V.F. Corporation’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, December 7th. V.F. Corporation’s payout ratio is 63.64%.
In other V.F. Corporation news, Director Bedout Juan Ernesto De sold 6,000 shares of V.F. Corporation stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $56.21, for a total transaction of $337,260.00. Following the completion of the sale, the director now directly owns 29,970 shares of the company’s stock, valued at approximately $1,684,613.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J/Ny Hurst sold 23,200 shares of V.F. Corporation stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $55.96, for a total value of $1,298,272.00. Following the sale, the director now directly owns 222,170 shares of the company’s stock, valued at $12,432,633.20. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Forsta AP Fonden acquired a new stake in shares of V.F. Corporation during the second quarter worth about $78,076,000. BB&T Corp increased its stake in shares of V.F. Corporation by 246.3% in the second quarter. BB&T Corp now owns 327,890 shares of the company’s stock worth $20,162,000 after buying an additional 233,202 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of V.F. Corporation by 47.3% in the third quarter. Johnson Investment Counsel Inc. now owns 428,020 shares of the company’s stock worth $23,990,000 after buying an additional 137,366 shares during the period. Boston Financial Mangement LLC acquired a new stake in shares of V.F. Corporation during the second quarter worth about $4,928,000. Finally, AMG National Trust Bank increased its stake in shares of V.F. Corporation by 6.8% in the third quarter. AMG National Trust Bank now owns 1,191,839 shares of the company’s stock worth $66,803,000 after buying an additional 76,091 shares during the period. 99.00% of the stock is owned by institutional investors.
About V.F. Corporation
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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