$3.41 Billion in Sales Expected for V.F. Corporation (VFC) This Quarter
Wall Street brokerages expect that V.F. Corporation (NYSE:VFC) will report sales of $3.41 billion for the current quarter, Zacks Investment Research reports. Sixteen analysts have issued estimates for V.F. Corporation’s earnings, with estimates ranging from $3.34 billion to $3.47 billion. V.F. Corporation posted sales of $3.46 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The firm is scheduled to report its next quarterly earnings report before the market opens on Monday, October 23rd.
On average, analysts expect that V.F. Corporation will report full-year sales of $3.41 billion for the current year, with estimates ranging from $11.57 billion to $11.86 billion. For the next fiscal year, analysts expect that the company will post sales of $12.35 billion per share, with estimates ranging from $11.68 billion to $13.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for V.F. Corporation.
V.F. Corporation (NYSE:VFC) last posted its earnings results on Monday, July 24th. The textile maker reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. V.F. Corporation had a net margin of 9.23% and a return on equity of 27.44%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. V.F. Corporation’s quarterly revenue was up 1.7% on a year-over-year basis.
Several equities analysts recently issued reports on the stock. Bank of America Corporation reissued an “underperform” rating and set a $50.00 price target (up from $47.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Cowen and Company reissued a “hold” rating on shares of V.F. Corporation in a report on Thursday, August 17th. Stifel Nicolaus reissued a “hold” rating and set a $60.00 price target (up from $57.00) on shares of V.F. Corporation in a report on Monday, August 14th. Piper Jaffray Companies set a $58.00 price target on shares of V.F. Corporation and gave the company a “hold” rating in a report on Monday, August 14th. Finally, Forward View reissued a “hold” rating on shares of V.F. Corporation in a report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. V.F. Corporation has an average rating of “Hold” and a consensus target price of $60.30.
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In related news, Director W Alan Mccollough sold 22,852 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $62.94, for a total transaction of $1,438,304.88. Following the completion of the transaction, the director now owns 36,353 shares in the company, valued at $2,288,057.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Aidan O’meara sold 29,336 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $62.54, for a total transaction of $1,834,673.44. Following the transaction, the vice president now owns 120,680 shares of the company’s stock, valued at approximately $7,547,327.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 453,152 shares of company stock valued at $28,649,326. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of VFC. Russell Investments Group Ltd. grew its holdings in V.F. Corporation by 21.5% during the first quarter. Russell Investments Group Ltd. now owns 106,943 shares of the textile maker’s stock valued at $5,880,000 after purchasing an additional 18,940 shares during the period. Canada Pension Plan Investment Board grew its holdings in V.F. Corporation by 485.3% during the first quarter. Canada Pension Plan Investment Board now owns 56,705 shares of the textile maker’s stock valued at $3,117,000 after purchasing an additional 47,017 shares during the period. American Century Companies Inc. grew its holdings in V.F. Corporation by 7.8% during the first quarter. American Century Companies Inc. now owns 46,590 shares of the textile maker’s stock valued at $2,561,000 after purchasing an additional 3,370 shares during the period. Suntrust Banks Inc. grew its holdings in V.F. Corporation by 3.9% during the first quarter. Suntrust Banks Inc. now owns 11,711 shares of the textile maker’s stock valued at $642,000 after purchasing an additional 439 shares during the period. Finally, CLS Investments LLC acquired a new position in V.F. Corporation during the first quarter valued at approximately $407,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.
V.F. Corporation (NYSE:VFC) opened at 62.43 on Friday. The company has a market cap of $24.57 billion, a PE ratio of 23.82 and a beta of 0.78. The firm has a 50-day moving average of $62.88 and a 200 day moving average of $56.96. V.F. Corporation has a 52-week low of $48.05 and a 52-week high of $64.51.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 7th. V.F. Corporation’s dividend payout ratio is 64.86%.
V.F. Corporation Company Profile
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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