Pivotal Research Begins Coverage on V.F. Corporation (VFC)
Pivotal Research started coverage on shares of V.F. Corporation (NYSE:VFC) in a research report released on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $75.00 price target on the textile maker’s stock.
A number of other brokerages also recently commented on VFC. TheStreet upgraded V.F. Corporation from a c+ rating to a b- rating in a report on Thursday, July 13th. Macquarie restated an outperform rating and set a $70.00 target price (up previously from $69.00) on shares of V.F. Corporation in a report on Tuesday, July 25th. Bank of America Corporation restated an underperform rating and set a $50.00 target price (up previously from $47.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Forward View upgraded V.F. Corporation from a sell rating to a hold rating and set a $65.00 target price for the company in a report on Friday, July 28th. Finally, Buckingham Research restated a neutral rating and set a $55.00 target price on shares of V.F. Corporation in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $61.45.
Shares of V.F. Corporation (VFC) opened at 65.65 on Thursday. The stock has a 50 day moving average of $63.09 and a 200 day moving average of $58.04. V.F. Corporation has a 1-year low of $48.05 and a 1-year high of $65.71. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 25.05 and a beta of 0.77.
V.F. Corporation (NYSE:VFC) last announced its earnings results on Monday, July 24th. The textile maker reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. Analysts predict that V.F. Corporation will post $2.98 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 8th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.56%. V.F. Corporation’s payout ratio is presently 64.86%.
In related news, Director W Alan Mccollough sold 22,852 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $62.94, for a total transaction of $1,438,304.88. Following the sale, the director now directly owns 36,353 shares of the company’s stock, valued at $2,288,057.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Aidan O’meara sold 29,336 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $62.54, for a total value of $1,834,673.44. Following the sale, the vice president now directly owns 120,680 shares in the company, valued at $7,547,327.20. The disclosure for this sale can be found here. Insiders have sold 453,152 shares of company stock valued at $28,649,326 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VFC. BlackRock Inc. boosted its position in shares of V.F. Corporation by 1,744.1% during the first quarter. BlackRock Inc. now owns 19,467,773 shares of the textile maker’s stock valued at $1,070,143,000 after buying an additional 18,412,097 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of V.F. Corporation by 13.9% during the first quarter. Wellington Management Group LLP now owns 33,920,937 shares of the textile maker’s stock valued at $1,864,633,000 after buying an additional 4,129,477 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of V.F. Corporation by 12,957.2% during the first quarter. Victory Capital Management Inc. now owns 2,675,683 shares of the textile maker’s stock valued at $147,083,000 after buying an additional 2,655,191 shares during the last quarter. Eaton Vance Management boosted its position in shares of V.F. Corporation by 1,249.7% during the second quarter. Eaton Vance Management now owns 930,352 shares of the textile maker’s stock valued at $53,588,000 after buying an additional 861,421 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in shares of V.F. Corporation during the first quarter valued at $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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