V.F. Corporation (VFC) Receives Hold Rating from Cowen and Company
Cowen and Company reiterated their hold rating on shares of V.F. Corporation (NYSE:VFC) in a report released on Thursday morning. They currently have a $63.00 target price on the textile maker’s stock.
VFC has been the subject of several other research reports. Canaccord Genuity reissued a hold rating and issued a $53.00 price objective on shares of V.F. Corporation in a report on Friday, May 26th. Susquehanna Bancshares Inc reissued a positive rating and issued a $75.00 price objective (up previously from $70.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Stifel Nicolaus reissued a hold rating and issued a $60.00 price objective (up previously from $57.00) on shares of V.F. Corporation in a report on Monday, August 14th. Buckingham Research lifted their price objective on V.F. Corporation from $55.00 to $62.00 and gave the stock a neutral rating in a report on Tuesday, August 15th. Finally, Forward View reissued a hold rating on shares of V.F. Corporation in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $60.65.
V.F. Corporation (VFC) traded down 0.19% during trading on Thursday, hitting $61.73. 328,320 shares of the company’s stock traded hands. The company has a market cap of $24.30 billion, a PE ratio of 23.55 and a beta of 0.78. The company’s 50 day moving average price is $62.89 and its 200 day moving average price is $57.16. V.F. Corporation has a 52-week low of $48.05 and a 52-week high of $64.51.
V.F. Corporation (NYSE:VFC) last released its 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 company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. Analysts expect that V.F. Corporation will post $2.97 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.72%. V.F. Corporation’s dividend payout ratio (DPR) is presently 64.86%.
In related news, Chairman Eric C. Wiseman sold 110,943 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $63.65, for a total value of $7,061,521.95. Following the sale, the chairman now directly owns 660,806 shares of the company’s stock, valued at $42,060,301.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Aidan O’meara sold 29,336 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $62.54, for a total value of $1,834,673.44. Following the completion of the sale, the vice president now directly owns 120,680 shares in the company, valued at $7,547,327.20. The disclosure for this sale can be found here. Insiders have sold 453,152 shares of company stock worth $28,649,326 over the last three months. Insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Orrstown Financial Services Inc. grew its stake 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 purchasing an additional 150 shares during the period. TrimTabs Asset Management LLC purchased a new stake in V.F. Corporation in the first quarter worth $121,000. WFG Advisors LP grew its stake in V.F. Corporation by 7.4% in the first quarter. WFG Advisors LP now owns 2,480 shares of the textile maker’s stock worth $136,000 after purchasing an additional 170 shares during the period. Zions Bancorporation grew its stake in V.F. Corporation by 1.5% in the first quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock worth $140,000 after purchasing an additional 38 shares during the period. Finally, NINE MASTS CAPITAL Ltd purchased a new stake in V.F. Corporation in the first quarter worth $148,000. 88.57% of the stock is currently owned by institutional investors.
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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