VF (NYSE:VFC) Hits New 1-Year High After Earnings Beat

VF Corporation (NYSE:VFC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $21.93 and last traded at $21.83, with a volume of 8517246 shares traded. The stock had previously closed at $17.03.

The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.41 by $0.19. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.72 billion. VF had a positive return on equity of 11.75% and a negative net margin of 11.39%. VF's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS.

VF Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.67%. VF's dividend payout ratio is currently -11.92%.

Analyst Ratings Changes

A number of analysts recently issued reports on VFC shares. JPMorgan Chase & Co. lifted their price target on shares of VF from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Tuesday. Jefferies Financial Group started coverage on VF in a report on Friday, September 27th. They issued a "hold" rating and a $20.00 price objective for the company. UBS Group increased their target price on VF from $12.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. Evercore ISI raised their price target on shares of VF from $14.00 to $16.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 7th. Finally, Argus raised shares of VF to a "hold" rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $18.18.

Insider Buying and Selling

In related news, Director Richard Carucci bought 15,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $16.70 per share, with a total value of $250,500.00. Following the purchase, the director now owns 230,178 shares in the company, valued at approximately $3,843,972.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On VF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of VF by 328.0% in the second quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker's stock valued at $21,922,000 after buying an additional 1,244,448 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in VF by 90.7% in 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 acquiring an additional 96,442 shares during the last quarter. Murphy Pohlad Asset Management LLC bought a new position in shares of VF during the 2nd quarter valued at about $1,668,000. Smith Thornton Advisors LLC acquired a new position in shares of VF in the 2nd quarter worth approximately $436,000. Finally, Scientech Research LLC raised its holdings in shares of VF by 220.1% in the 2nd quarter. Scientech Research LLC now owns 93,861 shares of the textile maker's stock worth $1,267,000 after purchasing an additional 64,541 shares in the last quarter. 86.84% of the stock is owned by institutional investors.

VF Trading Up 27.0 %

The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of -7.16, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53. The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84. The firm's 50 day moving average is $18.62 and its 200 day moving average is $15.64.

About VF

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.