VF (NYSE:VFC) Trading Up 6.2% – Here’s Why

VF Corporation (NYSE:VFC) shot up 6.2% on Friday . The stock traded as high as $20.07 and last traded at $19.96. 1,090,141 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 8,151,347 shares. The stock had previously closed at $18.79.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VFC shares. BMO Capital Markets lifted their price target on VF from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Stifel Nicolaus lifted their price objective on shares of VF from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Robert W. Baird raised their target price on shares of VF from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of VF from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Barclays increased their price objective on shares of VF from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.19.

VF Trading Up 5.2 %

The firm’s 50-day moving average price is $19.55 and its two-hundred day moving average price is $16.53. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86.

VF (NYSE:VFC) last announced its quarterly earnings data on Monday, October 28th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts predict that VF Corporation will post 0.49 earnings per share for the current fiscal year.

VF Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, December 10th. VF’s payout ratio is presently -20.81%.

Institutional Investors Weigh In On VF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC lifted its holdings in shares of VF by 1.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock valued at $73,084,000 after buying an additional 65,919 shares during the last quarter. Principal Financial Group Inc. grew its position in VF by 328.0% in the second quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker’s stock worth $21,922,000 after acquiring an additional 1,244,448 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of VF by 90.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock worth $2,737,000 after purchasing an additional 96,442 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of VF during the 3rd quarter valued at $640,000. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in shares of VF in the 2nd quarter valued at $1,668,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.

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.