VF (NYSE:VFC) Share Price Passes Above 200-Day Moving Average – What’s Next?

VF Corporation (NYSE:VFC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.94 and traded as high as $22.03. VF shares last traded at $21.88, with a volume of 1,835,946 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VFC. JPMorgan Chase & Co. lifted their target price on shares of VF from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. TD Cowen lifted their price objective on VF from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Argus raised VF from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, December 17th. The Goldman Sachs Group assumed coverage on VF in a research report on Friday, October 11th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Telsey Advisory Group increased their price objective on VF from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.11.

VF Stock Performance

The company has a market cap of $8.52 billion, a P/E ratio of -12.65, a P/E/G ratio of 8.19 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86. The business has a fifty day simple moving average of $20.35 and a two-hundred day simple moving average of $17.94.

VF (NYSE:VFC) last posted its quarterly earnings data on Monday, October 28th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.19. VF had a negative net margin of 6.68% and a positive return on equity of 12.53%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that VF Corporation will post 0.48 EPS for the current year.

VF Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.65%. VF’s payout ratio is currently -20.81%.

Hedge Funds Weigh In On VF

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of VF by 28.0% in the second quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock worth $159,609,000 after acquiring an additional 2,589,852 shares during the period. Principal Financial Group Inc. grew its holdings in VF by 328.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker’s stock valued at $21,922,000 after buying an additional 1,244,448 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of VF by 1,365.2% during the second quarter. Public Sector Pension Investment Board now owns 727,148 shares of the textile maker’s stock valued at $9,816,000 after buying an additional 677,519 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of VF by 28.3% in the second quarter. Deprince Race & Zollo Inc. now owns 3,057,884 shares of the textile maker’s stock worth $41,281,000 after buying an additional 673,979 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of VF by 23.6% during the second quarter. Bank of New York Mellon Corp now owns 2,481,600 shares of the textile maker’s stock worth $33,502,000 after acquiring an additional 473,373 shares during the last quarter. 86.84% of the stock is currently 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.