VF (NYSE:VFC) Hits New 52-Week High - Here's What Happened

VF Corporation (NYSE:VFC - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $23.87 and last traded at $23.63, with a volume of 272873 shares. The stock had previously closed at $23.08.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VFC. Wells Fargo & Company downgraded VF from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $16.00 to $15.00 in a research report on Monday, October 14th. TD Cowen upped their price target on shares of VF from $16.00 to $19.00 and gave the stock a "hold" rating in a research note on Tuesday, October 29th. Truist Financial started coverage on shares of VF in a report on Thursday, December 5th. They issued a "hold" rating and a $20.00 price objective for the company. Argus raised shares of VF from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Tuesday, December 17th. Finally, Telsey Advisory Group boosted their price objective on VF from $19.00 to $21.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.11.

VF Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86. The business's 50-day moving average is $21.09 and its two-hundred day moving average is $18.78. The company has a market capitalization of $8.99 billion, a P/E ratio of -13.35, a price-to-earnings-growth ratio of 8.19 and a beta of 1.45.

VF (NYSE:VFC - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.19. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period last year, the business posted $0.63 earnings per share. VF's revenue was down 5.6% on a year-over-year basis. As a group, analysts predict that VF Corporation will post 0.48 earnings per share for the current year.

VF Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.56%. VF's payout ratio is -20.81%.

Institutional Trading of VF

Hedge funds and other institutional investors have recently modified their holdings of the business. Arkadios Wealth Advisors grew its stake in VF by 5.3% during the third quarter. Arkadios Wealth Advisors now owns 24,108 shares of the textile maker's stock valued at $481,000 after acquiring an additional 1,217 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of VF in the 3rd quarter worth approximately $40,000. J.W. Cole Advisors Inc. boosted its stake in shares of VF by 22.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 16,076 shares of the textile maker's stock valued at $217,000 after purchasing an additional 2,919 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of VF by 100.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,017 shares of the textile maker's stock valued at $129,000 after purchasing an additional 3,008 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of VF during the 2nd quarter valued at $60,000. Institutional investors own 86.84% of the company's stock.

About VF

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.