$3.41 Billion in Sales Expected for V.F. Corporation (VFC) This Quarter
Wall Street analysts expect that V.F. Corporation (NYSE:VFC) will post $3.41 billion in sales for the current quarter, Zacks Investment Research reports. Sixteen analysts have provided estimates for V.F. Corporation’s earnings, with estimates ranging from $3.34 billion to $3.47 billion. V.F. Corporation reported sales of $3.46 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The business is scheduled to issue its next earnings results 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 $11.82 billion to $12.01 billion. For the next financial year, analysts expect that the business will post sales of $12.41 billion per share, with estimates ranging from $11.68 billion to $13.13 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for V.F. Corporation.
V.F. Corporation (NYSE:VFC) last issued its earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. V.F. Corporation’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share.
Several equities analysts have weighed in on VFC shares. TheStreet upgraded V.F. Corporation from a “c+” rating to a “b-” rating in a report on Thursday, July 13th. Macquarie restated an “outperform” rating and set a $70.00 price target (up previously from $69.00) on shares of V.F. Corporation in a report on Tuesday, July 25th. Canaccord Genuity set a $73.00 price target on V.F. Corporation and gave the company a “buy” rating in a report on Thursday. Bank of America Corporation restated an “underperform” rating and set a $50.00 price target (up previously from $47.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Finally, Forward View upgraded V.F. Corporation from a “sell” rating to a “hold” rating and set a $65.00 target price for the company in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $61.65.
In other V.F. Corporation news, Director W Alan Mccollough sold 22,852 shares of V.F. Corporation stock in a transaction on Monday, August 21st. The stock was sold at an average price of $62.94, for a total transaction of $1,438,304.88. Following the completion of the sale, the director now directly owns 36,353 shares of the company’s stock, valued at approximately $2,288,057.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Aidan O’meara sold 29,336 shares of V.F. Corporation stock in a transaction on Friday, August 18th. The shares were sold at an average price of $62.54, for a total value of $1,834,673.44. Following the sale, the vice president now directly owns 120,680 shares of the company’s stock, valued at $7,547,327.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 453,152 shares of company stock valued at $28,649,326. 1.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of VFC. Orrstown Financial Services Inc. raised its position in V.F. Corporation by 9.2% during the 2nd quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock valued at $103,000 after purchasing an additional 150 shares in the last quarter. Zions Bancorporation raised its position in V.F. Corporation by 1.5% during the 1st quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock valued at $140,000 after purchasing an additional 38 shares in the last quarter. Pathstone Family Office LLC bought a new stake in V.F. Corporation during the 1st quarter valued at $187,000. Ronald Blue & Co. LLC bought a new stake in V.F. Corporation during the 2nd quarter valued at $203,000. Finally, RNC Capital Management LLC raised its position in V.F. Corporation by 1.5% during the 2nd quarter. RNC Capital Management LLC now owns 4,135 shares of the textile maker’s stock valued at $238,000 after purchasing an additional 60 shares in the last quarter.
Shares of V.F. Corporation (NYSE:VFC) opened at 66.38 on Monday. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 25.33 and a beta of 0.77. V.F. Corporation has a 52 week low of $48.05 and a 52 week high of $66.97. The firm has a 50-day moving average price of $63.59 and a 200 day moving average price of $58.78.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for V.F. Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for V.F. Corporation and related companies with MarketBeat.com's FREE daily email newsletter.