V.F. Co. to Post Q2 2023 Earnings of $1.02 Per Share, Seaport Res Ptn Forecasts (NYSE:VFC)

V.F. Co. (NYSE:VFCGet Rating) – Equities research analysts at Seaport Res Ptn reduced their Q2 2023 earnings per share (EPS) estimates for shares of V.F. in a report issued on Friday, July 29th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will earn $1.02 per share for the quarter, down from their previous forecast of $1.18. The consensus estimate for V.F.’s current full-year earnings is $3.31 per share. Seaport Res Ptn also issued estimates for V.F.’s Q3 2023 earnings at $1.40 EPS, FY2023 earnings at $3.10 EPS, FY2024 earnings at $3.47 EPS and FY2025 earnings at $3.82 EPS.

V.F. (NYSE:VFCGet Rating) last posted its earnings results on Thursday, May 19th. The textile maker reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.83 billion. V.F. had a net margin of 11.71% and a return on equity of 35.47%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share.

Several other research firms also recently weighed in on VFC. Stifel Nicolaus raised their price objective on V.F. from $42.00 to $43.00 in a report on Wednesday, July 20th. Citigroup reduced their price target on V.F. from $49.00 to $47.00 and set a “maintains” rating on the stock in a report on Friday. Wedbush dropped their price objective on shares of V.F. from $61.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 20th. BTIG Research cut their target price on shares of V.F. from $67.00 to $60.00 in a research report on Friday. Finally, Wells Fargo & Company dropped their price target on shares of V.F. to $50.00 and set an “equal weight” rating for the company in a research note on Friday, May 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.17.

V.F. Stock Performance

Shares of V.F. stock opened at $44.68 on Monday. The company’s 50 day moving average price is $46.87 and its two-hundred day moving average price is $53.56. The firm has a market capitalization of $17.36 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 1.41. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.38 and a quick ratio of 0.96. V.F. has a fifty-two week low of $43.08 and a fifty-two week high of $83.64.

V.F. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Monday, September 12th will be paid a $0.50 dividend. The ex-dividend date is Friday, September 9th. This represents a $2.00 dividend on an annualized basis and a yield of 4.48%. V.F.’s dividend payout ratio (DPR) is presently 56.66%.

Insider Transactions at V.F.

In other V.F. news, Director Richard Carucci purchased 10,000 shares of V.F. stock in a transaction that occurred on Tuesday, June 14th. The stock was acquired at an average price of $45.39 per share, with a total value of $453,900.00. Following the transaction, the director now owns 107,493 shares in the company, valued at approximately $4,879,107.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director W Rodney Mcmullen acquired 3,000 shares of the stock in a transaction dated Tuesday, May 31st. The stock was purchased at an average cost of $49.99 per share, with a total value of $149,970.00. Following the completion of the purchase, the director now directly owns 28,125 shares in the company, valued at approximately $1,405,968.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard Carucci bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were bought at an average cost of $45.39 per share, for a total transaction of $453,900.00. Following the transaction, the director now owns 107,493 shares of the company’s stock, valued at $4,879,107.27. The disclosure for this purchase can be found here. Insiders have bought 16,000 shares of company stock valued at $740,070 over the last ninety days. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On V.F.

Several large investors have recently bought and sold shares of the stock. Capital International Investors lifted its position in shares of V.F. by 81.8% during the fourth quarter. Capital International Investors now owns 21,740,758 shares of the textile maker’s stock valued at $1,591,858,000 after purchasing an additional 9,782,346 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of V.F. by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 40,200,890 shares of the textile maker’s stock worth $2,285,822,000 after buying an additional 5,626,337 shares in the last quarter. Norges Bank purchased a new position in shares of V.F. in the 4th quarter worth approximately $213,383,000. Diamond Hill Capital Management Inc. grew its holdings in shares of V.F. by 29.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,628,798 shares of the textile maker’s stock valued at $433,773,000 after acquiring an additional 1,723,365 shares in the last quarter. Finally, State Street Corp increased its position in shares of V.F. by 9.8% during the fourth quarter. State Street Corp now owns 17,918,285 shares of the textile maker’s stock valued at $1,311,977,000 after acquiring an additional 1,596,886 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

V.F. Company Profile

(Get Rating)

V.F. Corporation, together with its subsidiaries, engages in the design, 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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Earnings History and Estimates for V.F. (NYSE:VFC)

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