Buckingham Research reiterated their neutral rating on shares of V.F. Corp. (NYSE:VFC) in a research note published on Wednesday. The firm currently has a $58.00 target price on the stock, down from their previous target price of $60.00.
VFC has been the topic of several other reports. Canaccord Genuity set a $68.00 target price on V.F. Corp. and gave the company a buy rating in a report on Wednesday, October 19th. B. Riley restated a neutral rating and set a $63.00 target price on shares of V.F. Corp. in a report on Monday, July 25th. Zacks Investment Research upgraded V.F. Corp. from a hold rating to a buy rating and set a $70.00 target price on the stock in a report on Tuesday, July 5th. Piper Jaffray Cos. restated an overweight rating and set a $63.00 target price (down from $67.00) on shares of V.F. Corp. in a report on Thursday, October 13th. Finally, Bank of America Corp. lowered V.F. Corp. from a buy rating to an underperform rating and cut their target price for the company from $73.00 to $54.00 in a report on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $66.48.
Shares of V.F. Corp. (NYSE:VFC) opened at 54.32 on Wednesday. The firm’s 50-day moving average price is $55.56 and its 200 day moving average price is $60.92. The firm has a market cap of $22.46 billion, a PE ratio of 20.62 and a beta of 0.90. V.F. Corp. has a 52 week low of $51.76 and a 52 week high of $70.35.
V.F. Corp. (NYSE:VFC) last posted its earnings results on Monday, October 24th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.05. V.F. Corp. had a return on equity of 26.26% and a net margin of 9.23%. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the company earned $1.07 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Equities analysts anticipate that V.F. Corp. will post $3.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Friday, December 9th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from V.F. Corp.’s previous quarterly dividend of $0.37. V.F. Corp.’s payout ratio is 56.06%.
In other news, Director Clarence Otis, Jr. sold 25,540 shares of V.F. Corp. stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $62.12, for a total value of $1,586,544.80. Following the completion of the transaction, the director now owns 37,510 shares in the company, valued at $2,330,121.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric C. Wiseman sold 264,816 shares of V.F. Corp. stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $64.55, for a total transaction of $17,093,872.80. Following the completion of the transaction, the chief executive officer now owns 756,198 shares of the company’s stock, valued at approximately $48,812,580.90. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Zions Bancorporation boosted its position in V.F. Corp. by 8.0% in the first quarter. Zions Bancorporation now owns 2,475 shares of the company’s stock worth $156,000 after buying an additional 183 shares during the period. Oakworth Capital Inc. boosted its position in V.F. Corp. by 108.3% in the second quarter. Oakworth Capital Inc. now owns 2,674 shares of the company’s stock valued at $167,000 after buying an additional 1,390 shares during the period. Stone Ridge Asset Management LLC bought a new position in V.F. Corp. during the first quarter valued at $207,000. WASHINGTON TRUST Co bought a new position in V.F. Corp. during the second quarter valued at $203,000. Finally, Trust Co. of Vermont boosted its position in V.F. Corp. by 3.8% in the third quarter. Trust Co. of Vermont now owns 3,572 shares of the company’s stock valued at $200,000 after buying an additional 132 shares during the period. Institutional investors own 98.99% of the company’s stock.
About V.F. Corp.