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

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

V.F. stock opened at $49.81 on Thursday. The company’s fifty day simple moving average is $51.60 and its 200-day simple moving average is $60.79. The company has a quick ratio of 0.96, a current ratio of 1.38 and a debt-to-equity ratio of 1.30. V.F. has a 12 month low of $44.17 and a 12 month high of $84.96. The stock has a market cap of $19.34 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.55 and a beta of 1.42.

V.F. (NYSE:VFCGet Rating) last issued its quarterly earnings data on Thursday, May 19th. The textile maker reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.83 billion. V.F. had a return on equity of 35.47% and a net margin of 11.71%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities research analysts expect that V.F. will post 3.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 21st. Investors of record on Friday, June 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, June 9th. V.F.’s dividend payout ratio is presently 56.66%.

VFC has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of V.F. from $65.00 to $55.00 in a report on Friday, May 13th. Barclays cut their price objective on shares of V.F. from $63.00 to $48.00 and set an equal weight rating for the company in a research report on Monday, May 23rd. Wedbush cut their price objective on shares of V.F. from $61.00 to $50.00 and set a neutral rating for the company in a research report on Friday, May 20th. StockNews.com assumed coverage on shares of V.F. in a research report on Thursday, March 31st. They set a hold rating for the company. Finally, BTIG Research cut their price objective on shares of V.F. from $90.00 to $71.00 and set a na rating for the company in a research report on Wednesday, May 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $62.89.

In other news, Director W Rodney Mcmullen bought 3,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were bought at an average cost of $49.99 per share, for a total transaction of $149,970.00. Following the completion of the acquisition, the director now owns 28,125 shares in the company, valued at approximately $1,405,968.75. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew H. Puckett sold 677 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $49.87, for a total transaction of $33,761.99. Following the completion of the sale, the chief financial officer now owns 44,691 shares in the company, valued at $2,228,740.17. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of VFC. First Community Trust NA acquired a new stake in shares of V.F. during the fourth quarter worth $25,000. Point72 Hong Kong Ltd raised its holdings in shares of V.F. by 106.9% during the first 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 period. Zullo Investment Group Inc. acquired a new stake in shares of V.F. during the fourth quarter worth $83,000. Covestor Ltd raised its holdings in shares of V.F. by 105.4% during the first quarter. Covestor Ltd now owns 3,068 shares of the textile maker’s stock worth $174,000 after acquiring an additional 1,574 shares during the period. Finally, Wahed Invest LLC acquired a new stake in shares of V.F. during the first quarter worth $217,000. Institutional investors own 88.25% of the company’s stock.

V.F. Company Profile (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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