Canaccord Genuity Analysts Give V.F. Corp. (VFC) a $32.00 Price Target
V.F. Corp. (NYSE:VFC) received a $32.00 price objective from investment analysts at Canaccord Genuity in a report released on Monday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential downside of 43.75% from the company’s previous close.
A number of other research analysts also recently issued reports on VFC. Buckingham Research downgraded V.F. Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $60.00 in a research note on Friday, September 2nd. DA Davidson downgraded V.F. Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $64.00 in a research note on Tuesday, September 6th. Wells Fargo & Co. reiterated a “market perform” rating and set a $58.00 price objective (up from $57.00) on shares of V.F. Corp. in a research note on Monday, September 12th. They noted that the move was a valuation call. Bank of America Corp. downgraded V.F. Corp. from a “buy” rating to an “underperform” rating and cut their price objective for the company from $73.00 to $54.00 in a research note on Thursday, September 15th. Finally, Susquehanna initiated coverage on V.F. Corp. in a research note on Thursday, September 15th. They set a “neutral” rating and a $55.00 price objective for the company. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. V.F. Corp. presently has an average rating of “Hold” and a consensus target price of $63.91.
Shares of V.F. Corp. (NYSE:VFC) traded down 2.02% on Monday, reaching $55.74. 1,334,812 shares of the company’s stock were exchanged. The firm has a market cap of $23.06 billion, a PE ratio of 21.16 and a beta of 0.84. The company has a 50 day moving average price of $55.08 and a 200 day moving average price of $59.69. V.F. Corp. has a one year low of $51.76 and a one year high of $67.10.
V.F. Corp. (NYSE:VFC) last released its quarterly earnings results on Monday, October 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.05. The business earned $3.50 billion during the quarter, compared to the consensus estimate of $3.63 billion. V.F. Corp. had a return on equity of 26.26% and a net margin of 9.23%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. Analysts expect that V.F. Corp. will post $3.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Friday, December 9th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.95%. This is an increase from V.F. Corp.’s previous quarterly dividend of $0.37. V.F. Corp.’s dividend payout ratio (DPR) is presently 56.06%.
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A number of large investors have recently modified their holdings of VFC. Forsta AP Fonden bought a new stake in shares of V.F. Corp. during the second quarter worth $78,076,000. Emerald Acquisition Ltd. bought a new stake in shares of V.F. Corp. during the second quarter worth $32,966,000. BB&T Corp increased its stake in shares of V.F. Corp. by 246.3% in the second quarter. BB&T Corp now owns 327,890 shares of the company’s stock worth $20,162,000 after buying an additional 233,202 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of V.F. Corp. by 47.3% in the third quarter. Johnson Investment Counsel Inc. now owns 428,020 shares of the company’s stock worth $23,990,000 after buying an additional 137,366 shares during the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in shares of V.F. Corp. by 8.5% in the second quarter. Cornerstone Investment Partners LLC now owns 1,581,292 shares of the company’s stock worth $97,234,000 after buying an additional 124,499 shares during the last quarter. 84.03% of the stock is currently owned by institutional investors.
About V.F. Corp.
V.F. Corporation (VF) is engaged in the design, manufacturing, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear, Contemporary Brands and Other. The Company owns a portfolio of brands in the outerwear, footwear, denim, backpack, luggage, accessory, sportswear, occupational and performance apparel categories.
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