V.F. (NYSE:VFC – Get Rating) updated its FY 2023 earnings guidance on Monday. The company provided earnings per share guidance of $2.60-$2.70 for the period, compared to the consensus earnings per share estimate of $3.04. The company issued revenue guidance of $12.43 billion-$12.55 billion, compared to the consensus revenue estimate of $12.13 billion. V.F. also updated its Q2 2023 guidance to $0.70-$0.75 EPS.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Guggenheim reduced their price objective on V.F. from $60.00 to $50.00 and set a buy rating for the company in a research report on Friday, September 30th. Credit Suisse Group reduced their price objective on V.F. from $59.00 to $45.00 and set an outperform rating for the company in a research report on Thursday, September 29th. BTIG Research cut their target price on V.F. from $67.00 to $60.00 in a research report on Friday, July 29th. Cowen cut their target price on V.F. from $50.00 to $36.00 and set a market perform rating for the company in a research report on Friday, September 30th. Finally, Barclays cut their target price on V.F. from $46.00 to $35.00 and set an equal weight rating for the company in a research report on Friday, September 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $46.60.
V.F. Trading Down 0.4 %
NYSE VFC opened at $27.48 on Monday. V.F. has a 1-year low of $27.03 and a 1-year high of $78.91. The company has a current ratio of 1.33, a quick ratio of 0.66 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $10.68 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.43 and a beta of 1.43. The firm’s fifty day simple moving average is $37.33 and its 200-day simple moving average is $44.54.
V.F. (NYSE:VFC – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The textile maker reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). V.F. had a return on equity of 33.20% and a net margin of 8.45%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.22 billion. As a group, sell-side analysts anticipate that V.F. will post 2.7 earnings per share for the current fiscal year.
V.F. Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Monday, September 12th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date was Friday, September 9th. V.F.’s dividend payout ratio (DPR) is presently 77.82%.
Insider Transactions at V.F.
In related news, Director Richard Carucci purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were acquired at an average cost of $41.44 per share, with a total value of $414,400.00. Following the completion of the purchase, the director now owns 115,528 shares of the company’s stock, valued at approximately $4,787,480.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other V.F. news, Director Richard Carucci acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average cost of $41.44 per share, for a total transaction of $414,400.00. Following the completion of the acquisition, the director now owns 115,528 shares of the company’s stock, valued at approximately $4,787,480.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Rodney Mcmullen acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average price of $44.76 per share, with a total value of $268,560.00. Following the completion of the acquisition, the director now directly owns 34,146 shares of the company’s stock, valued at approximately $1,528,374.96. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On V.F.
Hedge funds have recently bought and sold shares of the company. Centiva Capital LP bought a new stake in V.F. during the second quarter valued at about $506,000. Quantamental Technologies LLC bought a new stake in V.F. during the first quarter valued at about $375,000. Kingsview Wealth Management LLC bought a new stake in V.F. during the second quarter valued at about $341,000. Prudential PLC acquired a new position in shares of V.F. during the first quarter valued at about $324,000. Finally, AQR Capital Management LLC acquired a new position in shares of V.F. during the second quarter valued at about $321,000. 87.01% of the stock is currently owned by institutional investors.
About V.F.
V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.
Further Reading
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