V.F. (NYSE:VFC) Announces Earnings Results

V.F. (NYSE:VFC – Get Rating) issued its quarterly earnings results on Tuesday. The textile maker reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03, Briefing.com reports. V.F. had a net margin of 1.02% and a return on equity of 25.10%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the company earned $0.45 EPS. V.F.’s revenue was down 3.0% on a year-over-year basis. V.F. updated its FY24 guidance to $2.05-2.25 EPS.

V.F. Price Performance

Shares of NYSE:VFC opened at $18.35 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.58. The stock has a market capitalization of $7.13 billion, a P/E ratio of 59.20, a P/E/G ratio of 2.78 and a beta of 1.44. The business has a 50-day moving average of $21.61 and a two-hundred day moving average of $26.08. V.F. has a fifty-two week low of $18.03 and a fifty-two week high of $51.40.

V.F. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Monday, June 12th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.54%. V.F.’s payout ratio is 387.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets cut their price target on shares of V.F. from $28.00 to $25.00 in a report on Wednesday. Edward Jones upgraded V.F. from a “hold” rating to a “buy” rating in a report on Thursday, April 13th. Piper Sandler started coverage on V.F. in a report on Tuesday, April 25th. They set an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on V.F. from $33.00 to $26.00 in a report on Wednesday. Finally, Wedbush cut their price objective on V.F. from $29.00 to $19.00 in a report on Monday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, V.F. currently has an average rating of “Hold” and a consensus price target of $28.42.

Insider Activity

In other news, Director Carol L. Roberts acquired 7,109 shares of V.F. stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average cost of $21.07 per share, for a total transaction of $149,786.63. Following the completion of the purchase, the director now owns 7,109 shares of the company’s stock, valued at $149,786.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VFC. Point72 Hong Kong Ltd grew its position in shares of V.F. by 106.9% in the first quarter. Point72 Hong Kong Ltd now owns 1,131 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 17,451 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in V.F. in the 1st quarter valued at approximately $46,000. Coppell Advisory Solutions Corp. bought a new position in V.F. in the 4th quarter worth approximately $67,000. Money Concepts Capital Corp lifted its holdings in shares of V.F. by 1,224.2% during the fourth quarter. Money Concepts Capital Corp now owns 2,794 shares of the textile maker’s stock worth $77,000 after buying an additional 2,583 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of V.F. by 105.4% in the first quarter. Covestor Ltd now owns 3,068 shares of the textile maker’s stock worth $174,000 after acquiring an additional 1,574 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

V.F. Company Profile

(Get Rating)

VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, and Work. The Outdoor segment refers to authentic outdoor-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.