VF (NYSE:VFC) released its quarterly earnings data on Wednesday. The textile maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02, Briefing.com reports. VF had a return on equity of 38.84% and a net margin of 10.11%. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. VF updated its FY 2020 guidance to $3.30-3.35 EPS.

NYSE VFC traded down $3.41 on Wednesday, reaching $88.70. The company had a trading volume of 2,154,302 shares, compared to its average volume of 2,034,690. The firm has a market cap of $35.92 billion, a PE ratio of 29.76, a PEG ratio of 1.88 and a beta of 1.15. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. VF has a 1-year low of $67.18 and a 1-year high of $97.00.

In related news, VP Scott H. Baxter sold 51,911 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $84.25, for a total value of $4,373,501.75. Following the completion of the transaction, the vice president now directly owns 201,972 shares of the company’s stock, valued at approximately $17,016,141. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.72% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Doyle Wealth Management acquired a new position in shares of VF during the 4th quarter worth about $26,000. Reilly Financial Advisors LLC raised its holdings in shares of VF by 99.1% in the 4th quarter. Reilly Financial Advisors LLC now owns 440 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 219 shares during the period. Destination Wealth Management raised its holdings in shares of VF by 365.2% in the 4th quarter. Destination Wealth Management now owns 428 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 336 shares during the period. Sonora Investment Management LLC raised its holdings in shares of VF by 69.5% in the 4th quarter. Sonora Investment Management LLC now owns 444 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 182 shares during the period. Finally, Bruderman Asset Management LLC bought a new stake in shares of VF in the 4th quarter valued at about $37,000.

VFC has been the subject of a number of research analyst reports. Goldman Sachs Group initiated coverage on shares of VF in a research note on Friday, May 17th. They issued a “buy” rating and a $97.00 target price for the company. Cowen lifted their target price on shares of VF from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, February 19th. Citigroup reiterated a “neutral” rating and issued a $85.00 target price (down previously from $90.00) on shares of VF in a research note on Monday, March 18th. Telsey Advisory Group reiterated an “outperform” rating and issued a $96.00 target price (up previously from $88.00) on shares of VF in a research note on Tuesday, January 22nd. Finally, UBS Group lifted their target price on shares of VF from $84.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $92.95.

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About VF

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.

Further Reading: What are retained earnings?

Earnings History for VF (NYSE:VFC)

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