V.F. Corporation (VFC) To Go Ex-Dividend on September 7th
V.F. Corporation (NYSE:VFC) announced a quarterly dividend on Monday, July 24th, RTT News reports. Stockholders of record on Friday, September 8th will be paid a dividend of 0.42 per share by the textile maker on Monday, September 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, September 7th.
V.F. Corporation has raised its dividend by an average of 18.7% per year over the last three years and has increased its dividend annually for the last 44 consecutive years. V.F. Corporation has a payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect V.F. Corporation to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 50.6%.
Shares of V.F. Corporation (NYSE:VFC) opened at 63.58 on Friday. The stock has a market capitalization of $25.03 billion, a PE ratio of 24.26 and a beta of 0.78. The stock has a 50 day moving average of $61.57 and a 200-day moving average of $56.26. V.F. Corporation has a 52 week low of $48.05 and a 52 week high of $64.90.
V.F. Corporation (NYSE:VFC) last posted its earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm 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 quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. On average, equities research analysts expect that V.F. Corporation will post $2.97 EPS for the current year.
In other news, Chairman Eric C. Wiseman sold 110,943 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $63.65, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Alan Mccollough sold 22,852 shares of the company’s 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 approximately $2,288,057.82. The disclosure for this sale can be found here. Insiders have sold 163,131 shares of company stock valued at $10,334,500 in the last ninety days. Insiders own 1.60% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $53.00 target price on shares of V.F. Corporation in a report on Friday, May 26th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $75.00 target price (up from $70.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 target price (up from $57.00) on shares of V.F. Corporation in a report on Monday, August 14th. Buckingham Research lifted their target price on shares of V.F. Corporation from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Finally, Forward View reaffirmed a “hold” rating on shares of V.F. Corporation in a report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. V.F. Corporation currently has a consensus rating of “Hold” and an average target price of $60.15.
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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