VF (NYSE:VFC) Stock Price Up 6.2% – Here’s What Happened

VF Corporation (NYSE:VFC) shares traded up 6.2% on Friday . The company traded as high as $20.07 and last traded at $19.96. 1,090,141 shares changed 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.

Wall Street Analyst Weigh In

Several equities analysts have commented on VFC shares. BMO Capital Markets upped their price objective on shares of VF from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of VF in a report on Friday, September 27th. They issued a “hold” rating and a $20.00 price target on the stock. Citigroup boosted their price objective on VF from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company lowered VF from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $16.00 to $15.00 in a research note on Monday, October 14th. Finally, Argus upgraded VF to a “hold” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.19.

VF Stock Performance

The company has a market cap of $7.69 billion, a price-to-earnings ratio of -11.41, a P/E/G ratio of 7.16 and a beta of 1.52. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.88 and a current ratio of 1.30. The company has a fifty day moving average of $19.57 and a two-hundred day moving average of $16.61.

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, 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 firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts anticipate that VF Corporation will post 0.49 EPS for the current year.

VF Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th will be paid 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 dividend payout ratio (DPR) is currently -20.81%.

Institutional Investors Weigh In On VF

Institutional investors and hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new position in shares of VF during the third quarter valued at about $40,000. Bank & Trust Co purchased a new stake in VF in the second quarter worth $35,000. Versant Capital Management Inc lifted its position in shares of VF by 6,981.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,620 shares of the textile maker’s stock valued at $35,000 after buying an additional 2,583 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of VF by 50.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,681 shares of the textile maker’s stock worth $41,000 after acquiring an additional 895 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in VF in the 2nd quarter worth about $44,000. Institutional investors and hedge funds 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.