VF (NYSE:VFC) Shares Gap Up on Earnings Beat

Shares of VF Corporation (NYSE:VFC) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $26.59, but opened at $27.74. VF shares last traded at $28.29, with a volume of 4,806,498 shares.

The textile maker reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. During the same quarter in the prior year, the firm earned $0.57 earnings per share.

VF Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.30%. VF’s payout ratio is currently -20.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company downgraded shares of VF from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $16.00 to $15.00 in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on VF from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Argus raised VF from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, December 17th. Barclays boosted their target price on shares of VF from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com upgraded shares of VF from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, VF currently has an average rating of “Hold” and a consensus price target of $19.84.

Hedge Funds Weigh In On VF

Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of VF by 22.3% in the second quarter. American Century Companies Inc. now owns 88,093 shares of the textile maker’s stock valued at $1,189,000 after purchasing an additional 16,041 shares during the period. Sei Investments Co. boosted its position in shares of VF by 26.7% during the 2nd quarter. Sei Investments Co. now owns 207,120 shares of the textile maker’s stock valued at $2,796,000 after purchasing an additional 43,697 shares in the last quarter. Bank of Montreal Can grew its stake in shares of VF by 127.6% in the 2nd quarter. Bank of Montreal Can now owns 62,046 shares of the textile maker’s stock worth $878,000 after purchasing an additional 286,878 shares during the last quarter. Algert Global LLC bought a new stake in shares of VF in the 2nd quarter worth approximately $449,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in VF by 90.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock valued at $2,737,000 after purchasing an additional 96,442 shares during the last quarter. Institutional investors own 86.84% of the company’s stock.

VF Stock Up 4.4 %

The stock has a market capitalization of $10.80 billion, a P/E ratio of -16.14, a PEG ratio of 9.74 and a beta of 1.45. The stock’s fifty day moving average is $21.98 and its two-hundred day moving average is $19.61. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.30 and a quick ratio of 0.88.

VF Company Profile

VF Corp. engages in the business of producing and marketing apparel, footwear, and accessories. It operates through the following segments: Outdoor, Active, Work, and Other. The Outdoor segment includes authentic outdoor-based lifestyle brands such as performance-based and outdoor apparel, footwear, and equipment.