FY2017 Earnings Forecast for V.F. Corporation (VFC) Issued By KeyCorp
V.F. Corporation (NYSE:VFC) – Stock analysts at KeyCorp increased their FY2017 earnings estimates for shares of V.F. Corporation in a research note issued on Monday. KeyCorp analyst E. Yruma now expects that the textile maker will post earnings of $3.01 per share for the year, up from their prior forecast of $2.96. KeyCorp also issued estimates for V.F. Corporation’s Q4 2017 earnings at $0.99 EPS, Q3 2018 earnings at $1.36 EPS, Q4 2018 earnings at $1.05 EPS and FY2018 earnings at $3.32 EPS.
Several other equities analysts also recently issued reports on VFC. Buckingham Research lifted their price objective on V.F. Corporation from $62.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday. Pivotal Research lifted their price objective on V.F. Corporation from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday. Cowen and Company set a $69.00 price objective on V.F. Corporation and gave the company a “hold” rating in a research report on Monday. UBS AG reiterated a “buy” rating and issued a $77.00 price objective (up previously from $66.00) on shares of V.F. Corporation in a research report on Tuesday. Finally, Forward View reiterated a “hold” rating on shares of V.F. Corporation in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.86.
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V.F. Corporation (NYSE:VFC) opened at 71.23 on Wednesday. The firm has a market capitalization of $28.04 billion, a price-to-earnings ratio of 27.18 and a beta of 0.77. The stock’s 50 day moving average price is $63.98 and its 200-day moving average price is $59.08. V.F. Corporation has a one year low of $48.05 and a one year high of $71.95.
V.F. Corporation (NYSE:VFC) last issued its quarterly earnings results on Monday, October 23rd. The textile maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.40 billion. V.F. Corporation had a return on equity of 29.22% and a net margin of 8.24%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, December 7th. This is an increase from V.F. Corporation’s previous quarterly dividend of $0.42. V.F. Corporation’s dividend payout ratio is currently 70.89%.
In related news, Chairman Eric C. Wiseman sold 110,943 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 660,806 shares in the company, valued at $42,060,301.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Eric C. Wiseman sold 290,021 shares of the company’s stock in a transaction dated 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 sale, 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. Insiders sold 453,152 shares of company stock valued at $28,649,326 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont increased its holdings in V.F. Corporation by 8.0% in the third quarter. Trust Co. of Vermont now owns 10,030 shares of the textile maker’s stock valued at $637,000 after purchasing an additional 746 shares during the last quarter. Whittier Trust Co. increased its holdings in V.F. Corporation by 2.8% in the third quarter. Whittier Trust Co. now owns 64,863 shares of the textile maker’s stock valued at $4,123,000 after purchasing an additional 1,794 shares during the last quarter. Rockefeller Financial Services Inc. bought a new stake in V.F. Corporation in the third quarter valued at about $686,000. Lord Abbett & CO. LLC bought a new stake in V.F. Corporation in the second quarter valued at about $9,602,000. Finally, RNC Capital Management LLC increased its holdings in V.F. Corporation by 1.5% in the second 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 during the last quarter.
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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