VF (NYSE:VFC) Shares Gap Up After Better-Than-Expected Earnings

VF Corporation (NYSE:VFC)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. 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 trading hands.

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

VF Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of VF from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Citigroup increased their target price on VF from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on VF in a research note on Friday, October 11th. They issued a “neutral” rating and a $20.00 target price on the stock. Barclays increased their price target on shares of VF from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Stifel Nicolaus lifted their price objective on shares of VF from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, VF presently has a consensus rating of “Hold” and an average price target of $19.84.

Hedge Funds Weigh In On VF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in shares of VF during the 3rd quarter worth approximately $40,000. CKW Financial Group lifted its position in VF by 29.4% during the fourth quarter. CKW Financial Group now owns 2,200 shares of the textile maker’s stock worth $47,000 after buying an additional 500 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in VF by 100.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,017 shares of the textile maker’s stock worth $129,000 after buying an additional 3,008 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of VF in the second quarter valued at about $241,000. Finally, Quent Capital LLC increased its holdings in shares of VF by 1,917.1% during the 3rd quarter. Quent Capital LLC now owns 12,627 shares of the textile maker’s stock worth $247,000 after buying an additional 12,001 shares during the last quarter. 86.84% of the stock is owned by hedge funds and other institutional investors.

VF Trading Up 4.4 %

The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.88 and a current ratio of 1.30. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of -16.14, a price-to-earnings-growth ratio of 9.74 and a beta of 1.45. The company has a 50 day moving average price of $21.98 and a 200 day moving average price of $19.61.

About VF

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.