V.F. Corp. (VFC) Stock Rating Reaffirmed by Wells Fargo & Co.
V.F. Corp. (NYSE:VFC)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Wells Fargo & Co. in a report released on Monday.
VFC has been the subject of several other reports. B. Riley reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of V.F. Corp. in a report on Monday, July 25th. Zacks Investment Research raised shares of V.F. Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. DA Davidson reaffirmed a “buy” rating and issued a $79.00 price objective on shares of V.F. Corp. in a report on Monday, July 18th. Brean Capital reaffirmed a “hold” rating on shares of V.F. Corp. in a report on Monday, July 25th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $67.00 price objective on shares of V.F. Corp. in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $69.78.
Shares of V.F. Corp. (NYSE:VFC) opened at 58.43 on Monday. The company has a market cap of $24.23 billion, a PE ratio of 23.11 and a beta of 0.76. The firm’s 50 day moving average is $62.40 and its 200-day moving average is $63.24. V.F. Corp. has a 1-year low of $52.21 and a 1-year high of $73.81.
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V.F. Corp. (NYSE:VFC) last released its earnings results on Friday, July 22nd. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. V.F. Corp. had a net margin of 8.82% and a return on equity of 25.27%. The firm earned $2.40 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the firm earned $0.40 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities analysts expect that V.F. Corp. will post $3.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, September 9th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a yield of 2.53%. V.F. Corp.’s dividend payout ratio (DPR) is currently 58.73%.
In related news, Director Clarence Otis, Jr. sold 25,540 shares of V.F. Corp. stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $62.12, for a total transaction of $1,586,544.80. Following the completion of the transaction, the director now directly owns 37,510 shares of the company’s stock, valued at approximately $2,330,121.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eric C. Wiseman sold 264,816 shares of V.F. Corp. stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $64.55, for a total transaction of $17,093,872.80. Following the transaction, the chief executive officer now directly owns 756,198 shares of the company’s stock, valued at $48,812,580.90. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of VFC. Wellington Management Group LLP boosted its position in shares of V.F. Corp. by 334.9% in the first quarter. Wellington Management Group LLP now owns 11,940,163 shares of the company’s stock worth $773,245,000 after buying an additional 9,194,423 shares during the period. Alecta Pensionsforsakring Omsesidigt acquired a new position in shares of V.F. Corp. during the first quarter worth about $397,691,000. Norges Bank acquired a new position in shares of V.F. Corp. during the fourth quarter worth about $201,481,000. State Street Corp boosted its position in shares of V.F. Corp. by 18.3% in the first quarter. State Street Corp now owns 18,228,650 shares of the company’s stock valued at $1,180,486,000 after buying an additional 2,813,937 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of V.F. Corp. during the first quarter valued at about $67,181,000. 84.48% of the stock is owned by institutional investors.
About V.F. Corp.
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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