A number of other equities research analysts have also weighed in on the stock. Vetr lowered shares of V.F. Corporation from a sell rating to a strong sell rating and set a $49.00 price objective on the stock. in a report on Tuesday, April 11th. Cowen and Company boosted their price objective on shares of V.F. Corporation from $52.00 to $56.00 and gave the company a market perform rating in a report on Tuesday, April 4th. Susquehanna Bancshares Inc reissued a neutral rating and set a $49.00 price objective (down from $52.00) on shares of V.F. Corporation in a report on Monday, May 1st. Stifel Nicolaus reissued a hold rating and set a $56.00 price objective on shares of V.F. Corporation in a report on Sunday, April 23rd. Finally, Canaccord Genuity reissued a hold rating and set a $53.00 price objective on shares of V.F. Corporation in a report on Friday, May 26th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $55.67.
V.F. Corporation (NYSE VFC) opened at 56.20 on Thursday. V.F. Corporation has a 1-year low of $48.05 and a 1-year high of $65.20. The stock has a 50 day moving average price of $54.59 and a 200-day moving average price of $53.64. The stock has a market capitalization of $22.51 billion, a P/E ratio of 22.91 and a beta of 0.77.
V.F. Corporation (NYSE:VFC) last announced its quarterly earnings data on Friday, April 28th. The textile maker reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.73 billion. V.F. Corporation had a net margin of 8.67% and a return on equity of 26.78%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. Equities research analysts expect that V.F. Corporation will post $2.92 EPS for the current year.
V.F. Corporation announced that its board has initiated a stock repurchase program on Thursday, March 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the textile maker to purchase up to 22.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, June 19th. Stockholders of record on Friday, June 9th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Wednesday, June 7th. V.F. Corporation’s payout ratio is currently 68.85%.
Several large investors have recently bought and sold shares of VFC. Wellington Management Group LLP increased its position in V.F. Corporation by 13.9% in 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 period. State Street Corp increased its position in V.F. Corporation by 1.4% in the first quarter. State Street Corp now owns 20,946,013 shares of the textile maker’s stock valued at $1,151,388,000 after buying an additional 295,004 shares during the period. BlackRock Inc. increased its position in V.F. Corporation by 1,744.1% in 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 period. Parnassus Investments CA increased its position in V.F. Corporation by 25.5% in the first quarter. Parnassus Investments CA now owns 13,480,236 shares of the textile maker’s stock valued at $724,090,000 after buying an additional 2,740,485 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt increased its position in V.F. Corporation by 4.1% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 6,391,000 shares of the textile maker’s stock valued at $351,313,000 after buying an additional 250,000 shares during the period.
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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