V.F. Corporation (VFC) Given Consensus Rating of “Hold” by Brokerages
V.F. Corporation (NYSE:VFC) has been given a consensus recommendation of “Hold” by the twenty-four research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $55.67.
Several brokerages have commented on VFC. TheStreet upgraded shares of V.F. Corporation from a “c+” rating to a “b-” rating in a report on Thursday. Canaccord Genuity set a $53.00 target price on shares of V.F. Corporation and gave the stock a “hold” rating in a report on Monday. Buckingham Research restated a “neutral” rating and set a $55.00 target price on shares of V.F. Corporation in a report on Monday. Susquehanna Bancshares Inc restated a “neutral” rating and set a $49.00 target price (down from $52.00) on shares of V.F. Corporation in a report on Monday, May 1st. Finally, B. Riley restated a “neutral” rating and set a $53.00 target price on shares of V.F. Corporation in a report on Sunday, April 30th.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in V.F. Corporation by 1,744.1% in the first quarter. BlackRock Inc. now owns 19,467,773 shares of the textile maker’s stock worth $1,070,143,000 after buying an additional 18,412,097 shares during the period. Wellington Management Group LLP boosted its position in V.F. Corporation by 13.9% in the first quarter. Wellington Management Group LLP now owns 33,920,937 shares of the textile maker’s stock worth $1,864,633,000 after buying an additional 4,129,477 shares during the period. Parnassus Investments CA boosted its position in V.F. Corporation by 25.5% in the first quarter. Parnassus Investments CA now owns 13,480,236 shares of the textile maker’s stock worth $724,090,000 after buying an additional 2,740,485 shares during the period. Victory Capital Management Inc. boosted its position in V.F. Corporation by 12,957.2% in the first quarter. Victory Capital Management Inc. now owns 2,675,683 shares of the textile maker’s stock worth $147,083,000 after buying an additional 2,655,191 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in V.F. Corporation by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 5,808,796 shares of the textile maker’s stock worth $319,309,000 after buying an additional 1,017,375 shares during the period.
Shares of V.F. Corporation (NYSE:VFC) traded up 0.32% during midday trading on Monday, hitting $56.20. 5,300,916 shares of the company were exchanged. V.F. Corporation has a one year low of $48.05 and a one year high of $65.20. The stock has a market cap of $22.51 billion, a PE ratio of 22.91 and a beta of 0.77. The stock’s 50-day moving average is $54.59 and its 200-day moving average is $53.64.
V.F. Corporation (NYSE:VFC) last announced its earnings results on Friday, April 28th. The textile maker reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.73 billion. V.F. Corporation had a net margin of 8.67% and a return on equity of 26.78%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. Equities research analysts anticipate that V.F. Corporation will post $2.92 EPS for the current year.
V.F. Corporation declared that its board has approved a share buyback program on Thursday, March 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 22.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 19th. Shareholders of record on Friday, June 9th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.99%. V.F. Corporation’s dividend payout ratio (DPR) is 68.85%.
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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