V.F. Corp. (VFC) Shares Gap Up to $62.74
Shares of V.F. Corp. (NYSE:VFC) gapped up prior to trading on Friday . The stock had previously closed at $62.44, but opened at $62.74. V.F. Corp. shares last traded at $63.82, with a volume of 808,457 shares trading hands.
Several analysts have recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $82.00 price objective on shares of V.F. Corp. in a research note on Tuesday, April 5th. Zacks Investment Research raised V.F. Corp. from a “sell” rating to a “hold” rating in a report on Monday, April 25th. BB&T Corp. lowered V.F. Corp. from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Brean Capital reissued a “buy” rating and issued a $66.00 target price on shares of V.F. Corp. in a report on Monday, May 2nd. Finally, Goldman Sachs Group Inc. reissued a “buy” rating on shares of V.F. Corp. in a report on Thursday, May 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $71.04.
The company has a market capitalization of $26.71 billion and a P/E ratio of 22.95. The stock’s 50 day moving average price is $62.34 and its 200-day moving average price is $62.27.
V.F. Corp. (NYSE:VFC) last issued its earnings results on Friday, April 29th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. During the same quarter last year, the company posted $0.67 EPS. The company earned $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts anticipate that V.F. Corp. will post $3.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Friday, June 10th were paid a $0.37 dividend. The ex-dividend date was Wednesday, June 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.31%.
Several large investors recently modified their holdings of VFC. Vanguard Group Inc. raised its stake in shares of V.F. Corp. by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 21,970,594 shares of the company’s stock worth $1,367,669,000 after buying an additional 504,462 shares during the period. Wells Fargo & Company MN increased its stake in shares of V.F. Corp. by 6.7% in the fourth quarter. Wells Fargo & Company MN now owns 9,922,487 shares of the company’s stock worth $617,675,000 after buying an additional 623,308 shares in the last quarter. Morgan Stanley increased its stake in shares of V.F. Corp. by 1.3% in the fourth quarter. Morgan Stanley now owns 2,467,733 shares of the company’s stock worth $153,615,000 after buying an additional 32,833 shares in the last quarter. Atlantic Trust Group LLC increased its stake in shares of V.F. Corp. by 1.6% in the fourth quarter. Atlantic Trust Group LLC now owns 1,103,143 shares of the company’s stock worth $68,671,000 after buying an additional 17,285 shares in the last quarter. Finally, AMG National Trust Bank increased its stake in shares of V.F. Corp. by 5.4% in the fourth quarter. AMG National Trust Bank now owns 1,037,650 shares of the company’s stock worth $64,594,000 after buying an additional 53,165 shares in the last quarter.
V.F. Corporation (VF) is engaged in the design, manufacturing, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear, Contemporary Brands and Other. The Company owns a portfolio of brands in the outerwear, footwear, denim, backpack, luggage, accessory, sportswear, occupational and performance apparel categories.
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