V.F. Corporation (VFC) Earns “Hold” Rating from KeyCorp

KeyCorp reissued their hold rating on shares of V.F. Corporation (NYSE:VFC) in a research note released on Tuesday morning.

Other equities analysts have also recently issued reports about the company. Piper Jaffray Companies set a $58.00 target price on V.F. Corporation and gave the stock a hold rating in a report on Monday, August 14th. Forward View upgraded V.F. Corporation from a sell rating to a hold rating and set a $65.00 target price on the stock in a report on Friday, July 28th. Susquehanna Bancshares Inc reiterated a positive rating and issued a $75.00 target price (up from $70.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Buckingham Research increased their target price on V.F. Corporation from $55.00 to $62.00 and gave the stock a neutral rating in a report on Tuesday, August 15th. Finally, Cowen and Company reiterated a hold rating on shares of V.F. Corporation in a report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $65.45.

V.F. Corporation (NYSE:VFC) last issued its earnings results on Monday, October 23rd. The textile maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. V.F. Corporation had a return on equity of 29.22% and a net margin of 8.24%. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the business earned $1.20 EPS. V.F. Corporation’s quarterly revenue was up 5.4% compared to the same quarter last year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.63%. This is a boost from V.F. Corporation’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, December 7th. V.F. Corporation’s payout ratio is presently 70.89%.

In other news, CFO Scott A. Roe sold 18,952 shares of V.F. Corporation stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $70.48, for a total transaction of $1,335,736.96. Following 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven E. Rendle sold 65,604 shares of V.F. Corporation stock in a transaction 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 sale, the chief executive officer now owns 162,235 shares in the company, valued at $11,448,923.95. The disclosure for this sale can be found here. Insiders have sold a total of 551,744 shares of company stock worth $35,605,258 over the last quarter. Company insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in VFC. Teachers Advisors LLC increased its holdings in V.F. Corporation by 5.3% in the 1st quarter. Teachers Advisors LLC now owns 448,320 shares of the textile maker’s stock worth $24,644,000 after acquiring an additional 22,545 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in V.F. Corporation by 8.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 746,919 shares of the textile maker’s stock worth $41,054,000 after acquiring an additional 60,757 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in V.F. Corporation in the 1st quarter worth about $451,000. State Street Corp increased its holdings in V.F. Corporation by 1.4% in the 1st quarter. State Street Corp now owns 20,946,013 shares of the textile maker’s stock worth $1,151,388,000 after acquiring an additional 295,004 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in V.F. Corporation by 1.9% in the 1st quarter. Signaturefd LLC now owns 13,308 shares of the textile maker’s stock worth $732,000 after acquiring an additional 247 shares during the last quarter.

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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