V.F. Corp. (VFC) Shares Down 2.5%
V.F. Corp. (NYSE:VFC) was down 2.5% during mid-day trading on Monday . The company traded as low as $59.57 and last traded at $60.03, with a volume of 3,085,000 shares trading hands. The stock had previously closed at $61.56.
A number of equities research analysts have issued reports on VFC shares. Buckingham Research downgraded V.F. Corp. from a “buy” rating to a “neutral” rating and cut their price target for the company from $70.00 to $60.00 in a research note on Friday. Piper Jaffray Cos. restated a “buy” rating and set a $67.00 price target on shares of V.F. Corp. in a research note on Friday, July 22nd. Canaccord Genuity reaffirmed a “buy” rating and set a $82.00 price objective on shares of V.F. Corp. in a research report on Thursday, June 30th. Zacks Investment Research raised V.F. Corp. from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday, July 5th. Finally, DA Davidson reaffirmed a “buy” rating and set a $79.00 price objective on shares of V.F. Corp. in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $70.44.
The firm has a market cap of $24.90 billion and a P/E ratio of 23.75. The company’s 50-day moving average is $62.90 and its 200 day moving average is $63.25.
V.F. Corp. (NYSE:VFC) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. During the same quarter in the prior year, the company posted $0.40 EPS. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.53 billion. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts expect that V.F. Corp. will post $3.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Friday, September 9th will be given a $0.37 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.48 annualized dividend and a dividend yield of 2.47%.
In other news, CEO Eric C. Wiseman sold 264,816 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $64.55, for a total value of $17,093,872.80. Following the transaction, the chief executive officer now owns 756,198 shares in the company, valued at $48,812,580.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Clarence Otis, Jr. sold 25,540 shares of the firm’s 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 approximately $2,330,121.20. The disclosure for this sale can be found here.
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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