VF (NYSE:VFC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

VF Corporation (NYSE:VFC) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.94 and traded as high as $22.03. VF shares last traded at $21.88, with a volume of 1,835,946 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on VFC shares. The Goldman Sachs Group started coverage on VF in a report on Friday, October 11th. They issued a “neutral” rating and a $20.00 target price on the stock. Robert W. Baird raised their price objective on VF from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of VF from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of VF from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, Stifel Nicolaus upped their price objective 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. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.11.

VF Stock Performance

The company’s fifty day moving average is $20.44 and its 200 day moving average is $17.99. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $8.61 billion, a P/E ratio of -12.79, a P/E/G ratio of 8.19 and a beta of 1.49.

VF (NYSE:VFC) last announced its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.19. The company 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 firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. As a group, equities analysts anticipate 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. Stockholders of record on Tuesday, December 10th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, December 10th. VF’s payout ratio is -20.81%.

Hedge Funds Weigh In On VF

Several hedge funds have recently bought and sold shares of VFC. Future Financial Wealth Managment LLC bought a new position in VF in the 3rd quarter valued at $40,000. Abich Financial Wealth Management LLC bought a new stake in VF during the second quarter valued at $60,000. Banque Cantonale Vaudoise grew its position in VF by 113.3% during the second quarter. Banque Cantonale Vaudoise now owns 6,860 shares of the textile maker’s stock worth $93,000 after buying an additional 3,644 shares in the last quarter. Summit Financial LLC bought a new position in VF in the 2nd quarter worth about $137,000. Finally, HB Wealth Management LLC purchased a new stake in shares of VF in the 2nd quarter valued at about $154,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.

About VF

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.