VF (NYSE:VFC) Sets New 52-Week High – Still a Buy?

VF Corporation (NYSE:VFC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $24.50 and last traded at $24.50, with a volume of 434861 shares. The stock had previously closed at $23.67.

Analysts Set New Price Targets

Several brokerages have issued reports on VFC. TD Cowen increased their price objective on shares of VF from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. StockNews.com raised shares of VF from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. Truist Financial began coverage on VF in a research report on Thursday, December 5th. They set a “hold” rating and a $20.00 price target on the stock. OTR Global upgraded VF from a “mixed” rating to a “positive” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group started coverage on VF in a research report on Friday, September 27th. They issued a “hold” rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.63.

VF Price Performance

The firm has a market capitalization of $9.60 billion, a P/E ratio of -14.24, a P/E/G ratio of 9.18 and a beta of 1.45. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a 50 day moving average of $21.29 and a two-hundred day moving average of $19.08.

VF (NYSE:VFC) last announced its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating 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 negative net margin of 6.68% and a positive return on equity of 12.53%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Sell-side analysts predict that VF Corporation will post 0.48 earnings per share for the current fiscal year.

VF Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, December 10th. VF’s dividend payout ratio is currently -20.81%.

Hedge Funds Weigh In On VF

A number of large investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in VF by 22.3% during the 2nd quarter. American Century Companies Inc. now owns 88,093 shares of the textile maker’s stock worth $1,189,000 after buying an additional 16,041 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of VF by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker’s stock valued at $55,694,000 after acquiring an additional 113,128 shares during the period. Amalgamated Bank increased its position in VF by 114.9% in the second quarter. Amalgamated Bank now owns 151,153 shares of the textile maker’s stock worth $2,041,000 after purchasing an additional 80,806 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in VF by 37.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,072 shares of the textile maker’s stock worth $365,000 after purchasing an additional 7,380 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in VF by 14.7% during the 2nd quarter. Hsbc Holdings PLC now owns 415,433 shares of the textile maker’s stock valued at $5,579,000 after purchasing an additional 53,133 shares during the period. 86.84% of the stock is currently owned by institutional investors and hedge funds.

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.