V.F. (NYSE:VFC) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

V.F. (NYSE:VFC – Get Rating) released its quarterly earnings data on Tuesday. The textile maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03, Briefing.com reports. V.F. had a net margin of 1.02% and a return on equity of 25.10%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. V.F. updated its FY24 guidance to $2.05-2.25 EPS.

V.F. Trading Down 2.1 %

VFC stock traded down $0.38 during trading on Thursday, hitting $17.97. 3,017,273 shares of the company traded hands, compared to its average volume of 7,734,487. The firm has a market capitalization of $6.98 billion, a PE ratio of 59.20, a P/E/G ratio of 2.78 and a beta of 1.44. V.F. has a 1 year low of $17.92 and a 1 year high of $51.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.58 and a current ratio of 1.15. The company has a 50-day moving average of $21.61 and a 200-day moving average of $26.08.

V.F. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Monday, June 12th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Friday, June 9th. V.F.’s dividend payout ratio is presently 387.11%.

Insider Transactions at V.F.

In other V.F. news, Director Carol L. Roberts acquired 7,109 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was acquired at an average price of $21.07 per share, for a total transaction of $149,786.63. Following the acquisition, the director now owns 7,109 shares in the company, valued at approximately $149,786.63. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Institutional Trading of V.F.

Several large investors have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC bought a new stake in shares of V.F. during the 1st quarter valued at about $46,000. Point72 Hong Kong Ltd grew its holdings in shares of V.F. by 106.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,131 shares of the textile maker’s stock worth $64,000 after acquiring an additional 17,451 shares during the period. Coppell Advisory Solutions Corp. bought a new position in shares of V.F. in the 4th quarter worth approximately $67,000. Money Concepts Capital Corp boosted its position in shares of V.F. by 1,224.2% during the fourth quarter. Money Concepts Capital Corp now owns 2,794 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 2,583 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in V.F. by 29.2% in the third quarter. CENTRAL TRUST Co now owns 5,175 shares of the textile maker’s stock worth $154,000 after purchasing an additional 1,170 shares during the period. Institutional investors own 96.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VFC shares. Robert W. Baird dropped their target price on V.F. from $24.00 to $22.00 in a report on Wednesday. Bank of America reduced their target price on V.F. from $20.00 to $18.00 in a report on Wednesday. BMO Capital Markets lowered their target price on V.F. from $28.00 to $25.00 in a research note on Wednesday. BTIG Research restated a “neutral” rating on shares of V.F. in a research report on Tuesday, February 7th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $36.00 target price on shares of V.F. in a research report on Wednesday, February 8th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.42.

V.F. Company Profile

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VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, and Work. The Outdoor segment refers to authentic outdoor-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.