V.F. Corporation (VFC) Increases Dividend to $0.46 Per Share
V.F. Corporation (NYSE:VFC) announced a quarterly dividend on Monday, October 23rd, RTT News reports. Investors of record on Friday, December 8th will be given a dividend of 0.46 per share by the textile maker on Monday, December 18th. This represents a $1.84 dividend on an annualized basis 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 has raised its dividend payment by an average of 18.7% annually over the last three years and has increased its dividend every year for the last 44 years. V.F. Corporation has a dividend payout ratio of 56.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect V.F. Corporation to earn $3.33 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 50.5%.
Shares of V.F. Corporation (VFC) opened at 66.38 on Monday. V.F. Corporation has a 52-week low of $48.05 and a 52-week high of $66.97. The firm has a market capitalization of $26.13 billion, a P/E ratio of 25.33 and a beta of 0.77. The company’s 50-day moving average price is $63.59 and its 200-day moving average price is $58.78.
V.F. Corporation (NYSE:VFC) last released its quarterly earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. V.F. Corporation had a net margin of 9.23% and a return on equity of 27.44%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities research analysts expect that V.F. Corporation will post $2.98 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. Buckingham Research increased their price target on shares of V.F. Corporation from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. 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. Forward View raised shares of V.F. Corporation from a “sell” rating to a “hold” rating and set a $65.00 price target on the stock in a report on Friday, July 28th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $75.00 price target (up from $70.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Finally, Cowen and Company reissued a “hold” rating on shares of V.F. Corporation in a report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. V.F. Corporation has an average rating of “Hold” and a consensus target price of $61.65.
In related news, VP Aidan O’meara sold 29,336 shares of the 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 sale, the vice president now owns 120,680 shares in the company, valued at approximately $7,547,327.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Alan Mccollough sold 22,852 shares of the stock in a transaction that occurred 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 sale, the director now owns 36,353 shares in the company, valued at approximately $2,288,057.82. The disclosure for this sale can be found here. Insiders have sold a total of 453,152 shares of company stock worth $28,649,326 in the last quarter. 1.60% of the stock is currently owned by company insiders.
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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