VF (NYSE:VFC) Trading Up 5.8% – Here’s What Happened

VF Corporation (NYSE:VFC)’s share price was up 5.8% during trading on Friday . The company traded as high as $21.62 and last traded at $21.62. Approximately 527,282 shares were traded during trading, a decline of 93% from the average daily volume of 8,008,392 shares. The stock had previously closed at $20.43.

Analysts Set New Price Targets

Several analysts have issued reports on VFC shares. Barclays upped their price objective on VF from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Telsey Advisory Group raised their price target on VF from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Stifel Nicolaus upped their price objective on shares of VF from $21.00 to $25.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of VF from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, TD Cowen lifted their target price on shares of VF from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.29.

VF Price Performance

The firm has a market cap of $8.20 billion, a price-to-earnings ratio of -12.17, a price-to-earnings-growth ratio of 7.93 and a beta of 1.49. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 2.86. The company’s 50-day moving average is $19.94 and its 200-day moving average is $17.16.

VF (NYSE:VFC) last issued its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.19. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter last year, the company posted $0.63 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that VF Corporation will post 0.49 earnings per share for the current year.

VF Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.71%. VF’s dividend payout ratio (DPR) is currently -20.81%.

Institutional Investors Weigh In On VF

Several hedge funds and other institutional investors have recently made changes to their positions in VFC. Cetera Advisors LLC bought a new stake in shares of VF during the first quarter worth $317,000. Capital Investment Advisors LLC bought a new stake in VF during the 2nd quarter worth $295,000. Sterling Group Wealth Management LLC acquired a new position in VF in the 2nd quarter worth about $135,000. Sequoia Financial Advisors LLC bought a new position in VF in the second quarter valued at about $174,000. Finally, M&G Plc boosted its stake in shares of VF by 10.0% during the second quarter. M&G Plc now owns 14,729,396 shares of the textile maker’s stock valued at $206,212,000 after purchasing an additional 1,344,849 shares in the last quarter. 86.84% of the stock is owned by institutional investors.

VF Company Profile

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.