V.F. (NYSE:VFC) Updates FY 2023 Earnings Guidance

V.F. (NYSE:VFC – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $3.30-$3.40 for the period. The company issued revenue guidance of $12.67B-.

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. downgraded V.F. from an overweight rating to a neutral rating and dropped their target price for the company from $80.00 to $64.00 in a report on Monday, January 31st. Stifel Nicolaus decreased their target price on V.F. from $74.00 to $42.00 in a research report on Friday, May 20th. Wedbush reduced their price objective on V.F. from $61.00 to $50.00 and set a neutral rating for the company in a research report on Friday, May 20th. Citigroup reduced their price objective on V.F. from $71.00 to $68.00 and set a neutral rating for the company in a research report on Monday, January 31st. Finally, Truist Financial cut their target price on V.F. from $79.00 to $70.00 and set a hold rating on the stock in a research note on Monday, January 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, V.F. presently has an average rating of Hold and a consensus target price of $62.89.

Shares of VFC opened at $47.12 on Thursday. V.F. has a 1 year low of $44.17 and a 1 year high of $84.96. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.43 and a quick ratio of 1.03. The company has a market capitalization of $18.33 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.44 and a beta of 1.42. The business has a 50-day moving average of $53.04 and a 200-day moving average of $62.61.

V.F. (NYSE:VFC – Get Rating) last released its quarterly earnings data on Thursday, May 19th. The textile maker reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). V.F. had a net margin of 11.71% and a return on equity of 35.53%. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that V.F. will post 3.53 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 21st. Shareholders of record on Friday, June 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, June 9th. This represents a $2.00 dividend on an annualized basis and a yield of 4.24%. V.F.’s dividend payout ratio (DPR) is presently 56.66%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Community Trust NA bought a new position in V.F. in the 4th quarter worth about $25,000. Point72 Hong Kong Ltd grew its position in V.F. by 106.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,131 shares of the textile maker’s stock worth $64,000 after acquiring an additional 17,451 shares during the last quarter. Zullo Investment Group Inc. bought a new position in V.F. during the 4th quarter worth approximately $83,000. Covestor Ltd lifted its holdings in V.F. by 105.4% in the 1st quarter. Covestor Ltd now owns 3,068 shares of the textile maker’s stock worth $174,000 after buying an additional 1,574 shares during the period. Finally, Wahed Invest LLC purchased a new stake in V.F. in the 1st quarter worth approximately $217,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

About V.F. (Get Rating)

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

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