V.F. (NYSE:VFC) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

V.F. (NYSE:VFC – Get Rating) released its earnings results on Tuesday. The textile maker reported $0.17 EPS for the quarter, topping 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 business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue for the quarter 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 VFC opened at $18.35 on Thursday. The company’s 50-day moving average is $21.61 and its 200-day moving average is $26.08. 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 firm has a market capitalization of $7.13 billion, a PE ratio of 59.20, a PEG ratio of 2.78 and a beta of 1.44. 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 declared a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Monday, June 12th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Friday, June 9th. V.F.’s dividend payout ratio (DPR) is presently 387.11%.

Insider Buying and Selling

In related news, Director Carol L. Roberts acquired 7,109 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was purchased at an average cost of $21.07 per share, for a total transaction of $149,786.63. Following the completion of the transaction, the director now directly owns 7,109 shares of the company’s stock, valued at approximately $149,786.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

Institutional Trading of V.F.

Several hedge funds have recently added to or reduced their stakes in VFC. Ameriprise Financial Inc. increased its position in V.F. by 2.7% during the 1st quarter. Ameriprise Financial Inc. now owns 1,428,512 shares of the textile maker’s stock worth $32,727,000 after buying an additional 37,624 shares during the period. JPMorgan Chase & Co. boosted its holdings in V.F. by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 958,522 shares of the textile maker’s stock valued at $21,960,000 after purchasing an additional 349,378 shares during the period. Advisory Services Network LLC increased its holdings in shares of V.F. by 1.8% during the first quarter. Advisory Services Network LLC now owns 48,039 shares of the textile maker’s stock worth $1,101,000 after purchasing an additional 836 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of V.F. by 50.7% in the first quarter. Rockefeller Capital Management L.P. now owns 292,829 shares of the textile maker’s stock valued at $6,708,000 after buying an additional 98,488 shares during the period. Finally, Chevy Chase Trust Holdings LLC increased its stake in V.F. by 1.0% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 191,978 shares of the textile maker’s stock worth $4,398,000 after acquiring an additional 1,889 shares during the period. 96.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VFC shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $36.00 price target on shares of V.F. in a research report on Wednesday, February 8th. Williams Trading raised V.F. from a “sell” rating to a “buy” rating in a research report on Monday, March 20th. BTIG Research reiterated a “neutral” rating on shares of V.F. in a research note on Tuesday, February 7th. BMO Capital Markets reduced their price target on V.F. from $28.00 to $25.00 in a report on Wednesday. Finally, StockNews.com cut shares of V.F. from a “hold” rating to a “sell” rating in a report on Saturday, May 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.42.

V.F. Company Profile

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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.