VF (NYSE:VFC) Stock Price Up 5.5% – Here’s Why

VF Corporation (NYSE:VFC) shares shot up 5.5% during trading on Friday . The stock traded as high as $22.79 and last traded at $22.72. Approximately 2,011,755 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 3,776,705 shares. The stock had previously closed at $21.54.

Analyst Ratings Changes

A number of brokerages have issued reports on VFC. Truist Financial began coverage on VF in a research report on Thursday, December 5th. They set a “hold” rating and a $20.00 price objective on the stock. Guggenheim lifted their price objective on shares of VF from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird increased their target price on shares of VF from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Barclays lifted their price target on shares of VF from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of VF from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, VF presently has a consensus rating of “Hold” and an average target price of $19.11.

VF Trading Up 5.5 %

The stock has a market capitalization of $8.85 billion, a P/E ratio of -13.14, a P/E/G ratio of 8.19 and a beta of 1.45. 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 stock’s 50 day moving average price is $21.02 and its 200-day moving average price is $18.62.

VF (NYSE:VFC) last released its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts expect that VF Corporation will post 0.48 earnings per share for the current year.

VF Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, December 10th. VF’s payout ratio is currently -20.81%.

Institutional Investors Weigh In On VF

A number of hedge funds and other institutional investors have recently bought and sold shares of VFC. Arkadios Wealth Advisors increased its holdings in shares of VF by 5.3% in the third quarter. Arkadios Wealth Advisors now owns 24,108 shares of the textile maker’s stock valued at $481,000 after purchasing an additional 1,217 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in VF in the 3rd quarter valued at approximately $40,000. J.W. Cole Advisors Inc. raised its stake in 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 during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in VF in the 2nd quarter worth approximately $60,000. Finally, Natixis Advisors LLC grew its holdings in VF by 39.8% in the 2nd quarter. Natixis Advisors LLC now owns 21,486 shares of the textile maker’s stock valued at $290,000 after buying an additional 6,113 shares during the period. Hedge funds and other 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.