VF (NYSE:VFC) Hits New 1-Year High Following Earnings Beat

VF Corporation (NYSE:VFC) reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $21.93 and last traded at $21.83, with a volume of 8517246 shares trading hands. The stock had previously closed at $17.03.

The textile maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.19. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.72 billion. VF had a positive return on equity of 11.75% and a negative net margin of 11.39%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS.

VF Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.62%. VF’s dividend payout ratio (DPR) is -11.92%.

Wall Street Analyst Weigh In

VFC has been the subject of several analyst reports. Stifel Nicolaus upped their price target on VF from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Argus upgraded shares of VF to a “hold” rating in a research note on Wednesday, August 28th. Wells Fargo & Company lowered shares of VF from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Monday, October 14th. Telsey Advisory Group lifted their price objective on VF from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Evercore ISI increased their target price on VF from $14.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, VF has a consensus rating of “Hold” and a consensus target price of $18.18.

Insider Activity

In related news, Director Richard Carucci purchased 15,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average price of $16.70 per share, with a total value of $250,500.00. Following the completion of the transaction, the director now owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On VF

A number of institutional investors have recently modified their holdings of the company. Arkadios Wealth Advisors grew its stake in VF by 5.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 24,108 shares of the textile maker’s stock worth $481,000 after acquiring an additional 1,217 shares during the period. Fiduciary Alliance LLC grew its position in shares of VF by 18.9% in the third quarter. Fiduciary Alliance LLC now owns 240,100 shares of the textile maker’s stock valued at $4,790,000 after purchasing an additional 38,088 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of VF in the third quarter valued at $40,000. GAMMA Investing LLC increased its stake in VF by 44.7% in the third quarter. GAMMA Investing LLC now owns 27,906 shares of the textile maker’s stock valued at $557,000 after purchasing an additional 8,615 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of VF by 40.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 107,700 shares of the textile maker’s stock worth $2,149,000 after acquiring an additional 30,800 shares during the period. Institutional investors and hedge funds own 86.84% of the company’s stock.

VF Trading Up 2.9 %

The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $8.66 billion, a PE ratio of -7.37, a P/E/G ratio of 3.27 and a beta of 1.53. The business’s fifty day moving average is $18.73 and its 200-day moving average is $15.69.

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.