Trade Report: The V.F. Corp.’s (VFC) Buy Rating Reaffirmed at Piper Jaffray Cos.

The V.F. Corp.’s (VFC) Buy Rating Reaffirmed at Piper Jaffray Cos.

Piper Jaffray Cos. reaffirmed their buy rating on shares of V.F. Corp. (NYSE:VFC) in a research note issued to investors on Thursday. Piper Jaffray Cos. currently has a $63.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. B. Riley reaffirmed a neutral rating and issued a $63.00 target price on shares of V.F. Corp. in a report on Wednesday, July 20th. Zacks Investment Research upgraded shares of V.F. Corp. from a sell rating to a hold rating in a research report on Wednesday, July 27th. Canaccord Genuity reiterated a buy rating and set a $76.00 price target on shares of V.F. Corp. in a research report on Tuesday, July 26th. DA Davidson reiterated a buy rating and set a $79.00 price target on shares of V.F. Corp. in a research report on Monday, July 18th. Finally, Brean Capital reiterated a hold rating on shares of V.F. Corp. in a research report on Monday, July 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. V.F. Corp. presently has an average rating of Hold and an average target price of $67.89.

V.F. Corp. (NYSE:VFC) traded up 0.31% on Thursday, hitting $54.82. 609,084 shares of the stock traded hands. V.F. Corp. has a 12-month low of $52.21 and a 12-month high of $73.81. The stock has a market capitalization of $22.74 billion, a P/E ratio of 21.69 and a beta of 0.90. The company’s 50 day moving average price is $57.80 and its 200-day moving average price is $61.69.

V.F. Corp. (NYSE:VFC) last posted its earnings results on Friday, July 22nd. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. V.F. Corp. had a net margin of 8.82% and a return on equity of 25.27%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that V.F. Corp. will post $3.20 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Friday, September 9th were paid a $0.37 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.48 annualized dividend and a dividend yield of 2.71%. V.F. Corp.’s dividend payout ratio is presently 58.73%.

In related news, CEO Eric C. Wiseman sold 264,816 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $64.55, for a total value of $17,093,872.80. Following the completion of the transaction, the chief executive officer now directly owns 756,198 shares of the company’s stock, valued at $48,812,580.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Clarence Otis, Jr. sold 25,540 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $62.12, for a total transaction of $1,586,544.80. Following the completion of the transaction, the director now directly owns 37,510 shares of the company’s stock, valued at $2,330,121.20. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in V.F. Corp. by 2.5% in the first quarter. Legal & General Group Plc now owns 1,494,752 shares of the company’s stock valued at $96,810,000 after buying an additional 36,623 shares in the last quarter. Norris Perne & French LLP MI boosted its position in V.F. Corp. by 9.7% in the second quarter. Norris Perne & French LLP MI now owns 95,131 shares of the company’s stock valued at $5,850,000 after buying an additional 8,374 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in V.F. Corp. during the first quarter valued at $3,866,000. State Street Corp boosted its position in V.F. Corp. by 18.3% in the first quarter. State Street Corp now owns 18,228,650 shares of the company’s stock valued at $1,180,486,000 after buying an additional 2,813,937 shares in the last quarter. Finally, Donaldson Capital Management LLC boosted its position in V.F. Corp. by 9.5% in the first quarter. Donaldson Capital Management LLC now owns 274,591 shares of the company’s stock valued at $17,782,000 after buying an additional 23,760 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

About V.F. Corp.

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