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

VF Corporation (NYSE:VFC) gapped up before the market opened on Wednesday following a better than expected earnings announcement. 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, beating the consensus estimate 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 quarter in the previous year, the business earned $0.57 earnings per share.

VF Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. VF’s payout ratio is -20.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. OTR Global raised VF from a “mixed” rating to a “positive” rating in a report on Friday, January 10th. The Goldman Sachs Group raised their price objective on shares of VF from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup upped their target price on shares of VF from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price target on shares of VF in a research note on Wednesday. Finally, Argus upgraded VF from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.47.

Institutional Investors Weigh In On VF

A number of hedge funds have recently made changes to their positions in the company. Sei Investments Co. raised its holdings 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 worth $2,796,000 after acquiring an additional 43,697 shares in the last quarter. Bank of Montreal Can lifted its position in VF by 127.6% during the second quarter. Bank of Montreal Can now owns 62,046 shares of the textile maker’s stock valued at $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 about $449,000. Teachers Retirement System of The State of Kentucky raised its position in shares of VF by 90.7% during the 2nd 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 buying an additional 96,442 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of VF in the 2nd quarter valued at about $241,000. 86.84% of the stock is currently owned by hedge funds and other institutional investors.

VF Trading Up 5.2 %

The company has a 50-day moving average of $22.12 and a 200 day moving average of $19.65. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market cap of $10.46 billion, a PE ratio of -15.54, a price-to-earnings-growth ratio of 9.74 and a beta of 1.45.

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.