VF Corp (NYSE:VFC) announced a quarterly dividend on Friday, July 31st, RTT News reports. Shareholders of record on Thursday, September 10th will be paid a dividend of 0.48 per share by the textile maker on Monday, September 21st. This represents a $1.92 dividend on an annualized basis and a yield of 3.18%.
VF has raised its dividend payment by an average of 26.1% per year over the last three years and has increased its dividend every year for the last 47 years. VF has a dividend payout ratio of 71.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect VF to earn $2.42 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 79.3%.
Shares of VFC opened at $60.36 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.23 and a current ratio of 1.66. The stock has a 50 day moving average price of $60.77 and a two-hundred day moving average price of $65.68. The firm has a market capitalization of $23.51 billion, a P/E ratio of 29.88, a P/E/G ratio of 4.63 and a beta of 1.22. VF has a 52 week low of $45.07 and a 52 week high of $100.25.
A number of equities analysts have recently weighed in on VFC shares. Susquehanna Bancshares boosted their target price on VF from $60.00 to $70.00 in a research note on Friday, July 10th. Argus downgraded VF from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Pivotal Research boosted their target price on VF from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. Royal Bank of Canada cut their target price on VF from $94.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Finally, UBS Group cut their target price on VF from $93.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. VF presently has an average rating of “Hold” and a consensus target price of $66.86.
In related news, Director Richard Carucci bought 3,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $60.51 per share, for a total transaction of $211,785.00. Following the completion of the transaction, the director now directly owns 69,774 shares in the company, valued at approximately $4,222,024.74. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Laura C. Meagher sold 10,055 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $69.32, for a total value of $697,012.60. Following the sale, the executive vice president now owns 23,474 shares in the company, valued at approximately $1,627,217.68. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
VF Company Profile
V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.
Further Reading: Secondary Public Offerings
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