KeyCorp Reiterates “Hold” Rating for V.F. Corporation (VFC)
VFC has been the subject of several other reports. DA Davidson lifted their price target on V.F. Corporation to $72.00 and gave the company a neutral rating in a research report on Tuesday, October 24th. Susquehanna Bancshares Inc reiterated a positive rating and set a $75.00 price target (up from $70.00) on shares of V.F. Corporation in a research report on Tuesday, August 15th. Cowen and Company reiterated a hold rating and set a $63.00 price target on shares of V.F. Corporation in a research report on Thursday, September 21st. Stifel Nicolaus restated a hold rating and issued a $60.00 price objective (up from $57.00) on shares of V.F. Corporation in a research report on Monday, August 14th. Finally, Canaccord Genuity set a $53.00 price objective on V.F. Corporation and gave the company a hold rating in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. V.F. Corporation currently has an average rating of Hold and an average price target of $65.45.
V.F. Corporation (NYSE VFC) opened at $69.47 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.47 and a quick ratio of 0.97. The company has a market cap of $27,624.87, a price-to-earnings ratio of 23.00, a P/E/G ratio of 2.37 and a beta of 0.79.
V.F. Corporation (NYSE:VFC) last announced its quarterly earnings results on Monday, October 23rd. The textile maker reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.11. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.40 billion. V.F. Corporation had a return on equity of 29.22% and a net margin of 8.24%. V.F. Corporation’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. analysts predict that V.F. Corporation will post 3.03 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.84 dividend on an annualized basis and a yield of 2.65%. This is a positive change from V.F. Corporation’s previous quarterly dividend of $0.42. V.F. Corporation’s payout ratio is 70.89%.
In other V.F. Corporation news, insider Laura C. Meagher sold 14,036 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $70.57, for a total transaction of $990,520.52. Following the transaction, the insider now owns 48,178 shares of the company’s stock, valued at $3,399,921.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Aidan O’meara sold 29,336 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $62.54, for a total value of $1,834,673.44. Following the transaction, the vice president now directly owns 120,680 shares in the company, valued at approximately $7,547,327.20. The disclosure for this sale can be found here. Insiders have sold 551,744 shares of company stock worth $35,605,258 in the last three months. 1.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lowe Brockenbrough & Co. Inc. boosted its stake in V.F. Corporation by 35.2% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 29,400 shares of the textile maker’s stock worth $1,616,000 after buying an additional 7,655 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of V.F. Corporation by 5.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 112,648 shares of the textile maker’s stock valued at $6,489,000 after purchasing an additional 5,655 shares during the last quarter. Columbia Asset Management lifted its stake in shares of V.F. Corporation by 468.6% in the 2nd quarter. Columbia Asset Management now owns 23,655 shares of the textile maker’s stock valued at $1,362,000 after purchasing an additional 19,495 shares during the last quarter. Oak Ridge Investments LLC lifted its stake in shares of V.F. Corporation by 7.7% in the 2nd quarter. Oak Ridge Investments LLC now owns 138,929 shares of the textile maker’s stock valued at $8,002,000 after purchasing an additional 9,980 shares during the last quarter. Finally, Indiana Trust & Investment Management CO lifted its stake in shares of V.F. Corporation by 1.1% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 6,462 shares of the textile maker’s stock valued at $372,000 after purchasing an additional 71 shares during the last quarter.
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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