Piper Jaffray Cos. Reiterates Buy Rating for V.F. Corp. (VFC)
V.F. Corp. (NYSE:VFC)‘s stock had its “buy” rating restated by analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Thursday. They presently have a $63.00 price objective on the stock. Piper Jaffray Cos.’s price objective would suggest a potential upside of 15.28% from the company’s previous close.
Several other equities research analysts also recently issued reports on VFC. B. Riley restated a “neutral” rating and issued a $63.00 price target on shares of V.F. Corp. in a report on Monday, July 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 price objective on shares of V.F. Corp. in a research report on Tuesday, July 26th. Zacks Investment Research cut V.F. Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Brean Capital reaffirmed a “hold” rating on shares of V.F. Corp. in a research report on Monday, July 25th. 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. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.89.
Shares of V.F. Corp. (NYSE:VFC) traded down 0.15% on Thursday, reaching $54.65. The company’s stock had a trading volume of 1,988,903 shares. The company’s 50 day moving average is $58.09 and its 200-day moving average is $61.74. The firm has a market cap of $22.67 billion, a price-to-earnings ratio of 21.62 and a beta of 0.90. 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 announced its quarterly earnings results on Friday, July 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. V.F. Corp. had a return on equity of 25.27% and a net margin of 8.82%. The company 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 company earned $0.40 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts expect that V.F. Corp. will post $3.20 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Friday, September 9th were paid a $0.37 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.48 annualized dividend and a dividend yield of 2.71%. V.F. Corp.’s payout ratio is 58.73%.
In other news, Director Clarence Otis, Jr. sold 25,540 shares of V.F. Corp. stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $62.12, for a total value of $1,586,544.80. Following the transaction, the director now owns 37,510 shares in the company, valued at approximately $2,330,121.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric C. Wiseman sold 264,816 shares of V.F. Corp. stock in a transaction on Friday, August 19th. The shares were sold at an average price of $64.55, for a total value of $17,093,872.80. Following the completion of the transaction, the chief executive officer now owns 756,198 shares in the company, valued at approximately $48,812,580.90. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Zions Bancorporation increased its stake in V.F. Corp. by 8.0% in the first quarter. Zions Bancorporation now owns 2,475 shares of the company’s stock valued at $156,000 after buying an additional 183 shares during the period. Oakworth Capital Inc. increased its stake in V.F. Corp. by 108.3% in the second quarter. Oakworth Capital Inc. now owns 2,674 shares of the company’s stock valued at $167,000 after buying an additional 1,390 shares during the period. WASHINGTON TRUST Co purchased a new stake in V.F. Corp. during the second quarter valued at $203,000. Stone Ridge Asset Management LLC purchased a new stake in V.F. Corp. during the first quarter valued at $207,000. Finally, Checchi Capital Advisers LLC increased its stake in V.F. Corp. by 16.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the company’s stock valued at $226,000 after buying an additional 519 shares during the period. Institutional investors own 98.99% of the company’s stock.
V.F. Corp. Company Profile
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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