Macquarie reiterated their outperform rating on shares of V.F. Corporation (NYSE:VFC) in a research report sent to investors on Tuesday morning. Macquarie currently has a $70.00 target price on the textile maker’s stock, up from their previous target price of $69.00.
A number of other equities analysts have also commented on VFC. Canaccord Genuity set a $53.00 price target on shares of V.F. Corporation and gave the stock a hold rating in a report on Monday, July 17th. B. Riley reissued a neutral rating and issued a $53.00 price target on shares of V.F. Corporation in a report on Monday, April 3rd. TheStreet raised shares of V.F. Corporation from a c+ rating to a b- rating in a report on Thursday, July 13th. Buckingham Research reissued a neutral rating and issued a $55.00 price target on shares of V.F. Corporation in a report on Monday, July 17th. Finally, UBS AG increased their price target on shares of V.F. Corporation from $59.00 to $66.00 and gave the stock a buy rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $57.05.
Shares of V.F. Corporation (NYSE VFC) traded down 0.44% during mid-day trading on Tuesday, reaching $60.78. 689,834 shares of the company’s stock were exchanged. V.F. Corporation has a 52-week low of $48.05 and a 52-week high of $65.20. The firm has a market cap of $24.34 billion, a P/E ratio of 24.78 and a beta of 0.78. The company has a 50 day moving average price of $56.23 and a 200 day moving average price of $53.96.
V.F. Corporation (NYSE:VFC) last issued its quarterly earnings results on Monday, July 24th. The textile maker reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. V.F. Corporation had a net margin of 9.23% and a return on equity of 27.44%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. Analysts forecast that V.F. Corporation will post $2.95 earnings per share for the current fiscal year.
V.F. Corporation announced that its board has approved a stock buyback program on Thursday, March 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the textile maker to purchase up to 22.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 8th will be given a $0.42 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.75%. V.F. Corporation’s dividend payout ratio is 64.86%.
Several large investors have recently bought and sold shares of the company. Quadrature Capital Ltd boosted its stake in V.F. Corporation by 600.0% in the fourth quarter. Quadrature Capital Ltd now owns 94,013 shares of the textile maker’s stock valued at $5,015,000 after buying an additional 80,583 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in V.F. Corporation by 17.2% in the fourth quarter. Perigon Wealth Management LLC now owns 31,874 shares of the textile maker’s stock valued at $1,676,000 after buying an additional 4,685 shares in the last quarter. Whalerock Point Partners LLC bought a new stake in V.F. Corporation during the fourth quarter valued at approximately $314,000. Teachers Advisors LLC boosted its stake in V.F. Corporation by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 425,775 shares of the textile maker’s stock valued at $22,715,000 after buying an additional 18,894 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new stake in V.F. Corporation during the fourth quarter valued at approximately $1,281,000.
About V.F. Corporation
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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