VF Corp (VFC) Announces Quarterly Dividend of $0.51
VF Corp (NYSE:VFC) announced a quarterly dividend on Friday, October 19th, RTT News reports. Investors of record on Monday, December 10th will be paid a dividend of 0.51 per share by the textile maker on Thursday, December 20th. This represents a $2.04 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, December 7th. This is a positive change from VF’s previous quarterly dividend of $0.46.
VF has raised its dividend payment by an average of 15.8% annually over the last three years and has raised its dividend every year for the last 45 years. VF has a payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect VF to earn $4.15 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 49.2%.
Shares of NYSE:VFC opened at $80.34 on Thursday. The stock has a market capitalization of $32.26 billion, a P/E ratio of 26.96, a PEG ratio of 2.00 and a beta of 0.98. VF has a fifty-two week low of $70.34 and a fifty-two week high of $97.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.54.
In other VF news, Director Richard Carucci acquired 5,000 shares of the stock in a transaction dated Wednesday, October 24th. The shares were bought at an average price of $78.65 per share, with a total value of $393,250.00. Following the purchase, the director now directly owns 48,190 shares of the company’s stock, valued at approximately $3,790,143.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.72% of the company’s stock.
VFC has been the topic of a number of recent analyst reports. Cowen upgraded shares of VF from a “market perform” rating to a “buy” rating and boosted their price target for the stock from $96.00 to $106.00 in a research report on Friday, September 14th. Bank of America set a $105.00 price target on shares of VF and gave the stock a “buy” rating in a research report on Thursday, September 13th. Guggenheim restated a “buy” rating and set a $105.00 price target on shares of VF in a research report on Monday, August 13th. Canaccord Genuity restated a “buy” rating and set a $108.00 price target on shares of VF in a research report on Monday, August 13th. Finally, Pivotal Research set a $90.00 price target on shares of VF and gave the stock a “hold” rating in a research report on Monday, October 15th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $95.17.
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VF Company Profile
V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.
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