Canaccord Genuity set a $58.00 target price on V.F. Corporation (NYSE:VFC) in a research note released on Wednesday morning. The brokerage currently has a hold rating on the textile maker’s stock.
Several other brokerages also recently commented on VFC. Macquarie restated an outperform rating and issued a $70.00 price objective (up from $69.00) on shares of V.F. Corporation in a research report on Tuesday. UBS AG boosted their price objective on V.F. Corporation from $59.00 to $66.00 and gave the company a buy rating in a research report on Tuesday. TheStreet upgraded V.F. Corporation from a c+ rating to a b- rating in a research report on Thursday, July 13th. Buckingham Research restated a neutral rating and issued a $55.00 price objective on shares of V.F. Corporation in a research report on Monday, July 17th. Finally, B. Riley restated a neutral rating and issued a $53.00 price objective on shares of V.F. Corporation in a research report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $57.05.
Shares of V.F. Corporation (VFC) opened at 61.85 on Wednesday. The stock has a market cap of $24.77 billion, a PE ratio of 25.21 and a beta of 0.78. The firm has a 50 day moving average price of $57.07 and a 200 day moving average price of $54.18. V.F. Corporation has a 12-month low of $48.05 and a 12-month high of $65.20.
V.F. Corporation (NYSE:VFC) last announced its quarterly earnings data on Monday, July 24th. The textile maker reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that V.F. Corporation will post $2.96 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.72%. V.F. Corporation’s dividend payout ratio is 64.86%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orrstown Financial Services Inc. boosted its position in V.F. Corporation by 9.2% in the second quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock worth $103,000 after buying an additional 150 shares in the last quarter. TrimTabs Asset Management LLC purchased a new position in shares of V.F. Corporation during the first quarter valued at about $121,000. WFG Advisors LP boosted its position in shares of V.F. Corporation by 7.4% in the first quarter. WFG Advisors LP now owns 2,480 shares of the textile maker’s stock valued at $136,000 after buying an additional 170 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of V.F. Corporation during the first quarter valued at about $141,000. Finally, Zions Bancorporation boosted its position in shares of V.F. Corporation by 1.5% in the first quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock valued at $140,000 after buying an additional 38 shares during the period.
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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