Traders Buy V.F. Corporation (VFC) on Weakness
Traders purchased shares of V.F. Corporation (NYSE:VFC) on weakness during trading on Friday. $44.86 million flowed into the stock on the tick-up and $24.76 million flowed out of the stock on the tick-down, for a money net flow of $20.10 million into the stock. Of all companies tracked, V.F. Corporation had the 23rd highest net in-flow for the day. V.F. Corporation traded down ($0.44) for the day and closed at $69.47
VFC has been the topic of a number of analyst reports. Bank of America Corporation reissued an “underperform” rating and issued a $50.00 price target (up previously from $47.00) on shares of V.F. Corporation in a research note on Tuesday, August 15th. Buckingham Research reissued a “neutral” rating and issued a $55.00 price target on shares of V.F. Corporation in a research note on Monday, July 17th. Cowen and Company reissued a “hold” rating and issued a $63.00 price target on shares of V.F. Corporation in a research note on Thursday, September 21st. Canaccord Genuity set a $81.00 price target on V.F. Corporation and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, Susquehanna Bancshares Inc raised V.F. Corporation from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $53.00 to $70.00 in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $65.45.
The stock has a market cap of $27,450.00, a price-to-earnings ratio of 23.00, a PEG ratio of 2.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 1.47.
V.F. Corporation (NYSE:VFC) last announced its quarterly earnings results on Monday, October 23rd. The textile maker reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.40 billion. V.F. Corporation had a return on equity of 29.22% and a net margin of 8.24%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. analysts anticipate that V.F. Corporation will post 3.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Friday, December 8th will be issued a $0.46 dividend. This is a positive change from V.F. Corporation’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, December 7th. V.F. Corporation’s payout ratio is 69.71%.
In related news, CFO Scott A. Roe sold 18,952 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $70.48, for a total value of $1,335,736.96. Following the completion of the sale, the chief financial officer now directly owns 114,013 shares in the company, valued at approximately $8,035,636.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven E. Rendle sold 65,604 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $70.57, for a total value of $4,629,674.28. Following the completion of the sale, the chief executive officer now owns 162,235 shares of the company’s stock, valued at $11,448,923.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 551,744 shares of company stock valued at $35,605,258. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of VFC. Orrstown Financial Services Inc. lifted its holdings in shares of V.F. Corporation by 9.2% during the second quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock worth $103,000 after buying an additional 150 shares during the last quarter. Zions Bancorporation lifted its holdings in shares of V.F. Corporation by 1.5% during the first quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock worth $140,000 after buying an additional 38 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in shares of V.F. Corporation during the third quarter worth approximately $210,000. Ronald Blue & Co. LLC acquired a new position in shares of V.F. Corporation during the second quarter worth approximately $203,000. Finally, RNC Capital Management LLC lifted its holdings in shares of V.F. Corporation by 1.5% during the second quarter. RNC Capital Management LLC now owns 4,135 shares of the textile maker’s stock worth $238,000 after buying an additional 60 shares during the last quarter.
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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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