V.F. Corporation (VFC) Announces Quarterly Earnings Results
V.F. Corporation (NYSE:VFC) announced its quarterly earnings data on Monday. The textile maker reported $1.23 EPS for the quarter, beating the consensus estimate of $1.12 by $0.11, Bloomberg Earnings reports. V.F. Corporation had a net margin of 9.23% and a return on equity of 27.44%. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the business posted $1.20 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. V.F. Corporation updated its FY17 guidance to ~$3.01 EPS.
Shares of V.F. Corporation (NYSE VFC) opened at 66.38 on Monday. V.F. Corporation has a 12-month low of $48.05 and a 12-month high of $66.97. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 25.33 and a beta of 0.77. The stock’s 50 day moving average is $63.59 and its 200-day moving average is $58.78.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Friday, December 8th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.77%. This is a positive change from V.F. Corporation’s previous quarterly dividend of $0.42. V.F. Corporation’s payout ratio is presently 64.86%.
In other news, Chairman Eric C. Wiseman sold 110,943 shares of the firm’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 completion of the transaction, the chairman now owns 660,806 shares in the company, valued at $42,060,301.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Eric C. Wiseman sold 290,021 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $63.15, for a total value of $18,314,826.15. Following the completion of the transaction, the chairman now owns 552,426 shares of the company’s stock, valued at approximately $34,885,701.90. The disclosure for this sale can be found here. In the last three months, insiders sold 453,152 shares of company stock valued at $28,649,326. 1.60% of the stock is owned by corporate insiders.
Several analysts have commented on VFC shares. Buckingham Research restated a “neutral” rating and set a $55.00 price objective on shares of V.F. Corporation in a research note on Monday, July 17th. Canaccord Genuity set a $53.00 price objective on shares of V.F. Corporation and gave the company a “hold” rating in a research note on Monday, July 17th. TheStreet upgraded shares of V.F. Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, July 13th. UBS AG lifted their price objective on shares of V.F. Corporation from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Macquarie restated an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of V.F. Corporation in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $61.65.
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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