VF (NYSE:VFC) Reaches New 1-Year High – Here’s What Happened

VF Corporation (NYSE:VFC)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $23.42 and last traded at $23.24, with a volume of 2258785 shares changing hands. The stock had previously closed at $22.59.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VFC. Wells Fargo & Company lowered VF from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $16.00 to $15.00 in a research report on Monday, October 14th. Telsey Advisory Group upped their target price on shares of VF from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Stifel Nicolaus lifted their price target on shares of VF from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Jefferies Financial Group started coverage on shares of VF in a research report on Friday, September 27th. They issued a “hold” rating and a $20.00 price objective for the company. Finally, Citigroup lifted their target price on VF from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.11.

VF Stock Performance

The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of -12.53, a P/E/G ratio of 8.19 and a beta of 1.49. The stock’s 50 day moving average price is $20.21 and its 200 day moving average price is $17.70. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 2.86.

VF (NYSE:VFC) last issued its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.41 by $0.19. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.72 billion. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Analysts expect that VF Corporation will post 0.48 earnings per share for the current year.

VF Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, December 10th. VF’s dividend payout ratio (DPR) is currently -20.81%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VFC. Future Financial Wealth Managment LLC acquired a new stake in VF in the 3rd quarter valued at about $40,000. Abich Financial Wealth Management LLC acquired a new stake in shares of VF in the second quarter valued at approximately $60,000. Banque Cantonale Vaudoise boosted its stake in shares of VF by 113.3% during the 2nd quarter. Banque Cantonale Vaudoise now owns 6,860 shares of the textile maker’s stock worth $93,000 after acquiring an additional 3,644 shares during the period. Summit Financial LLC acquired a new position in shares of VF during the 2nd quarter worth approximately $137,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in VF during the 2nd quarter valued at $139,000. 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.