V.F. Co. Forecasted to Earn Q1 2024 Earnings of ($0.24) Per Share (NYSE:VFC)

V.F. Co. (NYSE:VFC – Get Rating) – Analysts at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for V.F. in a research report issued on Wednesday, May 24th. Seaport Res Ptn analyst M. Kummetz anticipates that the textile maker will post earnings of ($0.24) per share for the quarter. The consensus estimate for V.F.’s current full-year earnings is $2.11 per share.

V.F. (NYSE:VFC – Get Rating) last released its quarterly earnings data on Tuesday, May 23rd. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. V.F. had a return on equity of 25.78% and a net margin of 1.02%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share.

A number of other research analysts also recently issued reports on VFC. Stifel Nicolaus upgraded V.F. from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Friday, February 10th. BTIG Research restated a “neutral” rating on shares of V.F. in a report on Tuesday, February 7th. Piper Sandler assumed coverage on V.F. in a report on Tuesday, April 25th. They set an “overweight” rating on the stock. Robert W. Baird reduced their price target on V.F. from $24.00 to $22.00 in a report on Wednesday. Finally, Wedbush reduced their price target on V.F. from $29.00 to $19.00 in a report on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, V.F. presently has a consensus rating of “Hold” and a consensus target price of $28.42.

V.F. Stock Up 3.4 %

Shares of NYSE:VFC opened at $18.05 on Friday. V.F. has a 1 year low of $17.43 and a 1 year high of $51.40. The company has a market cap of $7.02 billion, a PE ratio of 58.23, a P/E/G ratio of 2.74 and a beta of 1.44. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.45 and a quick ratio of 0.58. The stock’s 50-day moving average is $21.47 and its 200 day moving average is $25.95.

Hedge Funds Weigh In On V.F.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VFC. Lumature Wealth Partners LLC raised its stake in V.F. by 6.0% during the 1st quarter. Lumature Wealth Partners LLC now owns 4,153 shares of the textile maker’s stock valued at $236,000 after buying an additional 236 shares during the last quarter. Utah Retirement Systems increased its stake in shares of V.F. by 0.5% in the 3rd quarter. Utah Retirement Systems now owns 62,551 shares of the textile maker’s stock worth $1,871,000 after purchasing an additional 300 shares in the last quarter. CI Investments Inc. increased its stake in shares of V.F. by 3.9% in the 3rd quarter. CI Investments Inc. now owns 8,304 shares of the textile maker’s stock worth $248,000 after purchasing an additional 313 shares in the last quarter. Mycio Wealth Partners LLC increased its stake in shares of V.F. by 1.3% in the 3rd quarter. Mycio Wealth Partners LLC now owns 26,143 shares of the textile maker’s stock worth $782,000 after purchasing an additional 333 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of V.F. by 12.1% in the 4th quarter. Parallel Advisors LLC now owns 3,098 shares of the textile maker’s stock worth $86,000 after purchasing an additional 334 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

Insider Transactions at V.F.

In related news, Director Carol L. Roberts purchased 7,109 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were purchased at an average cost of $21.07 per share, with a total value of $149,786.63. Following the transaction, the director now directly owns 7,109 shares in the company, valued at approximately $149,786.63. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.90% of the company’s stock.

V.F. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Monday, June 12th will be given a $0.30 dividend. The ex-dividend date is Friday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.65%. V.F.’s dividend payout ratio is currently 387.11%.

V.F. Company Profile

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VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, and Work. The Outdoor segment refers to authentic outdoor-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.