FY2023 EPS Estimates for V.F. Co. Reduced by Wedbush (NYSE:VFC)

V.F. Co. (NYSE:VFC – Get Rating) – Investment analysts at Wedbush lowered their FY2023 earnings estimates for shares of V.F. in a research report issued on Monday, May 22nd. Wedbush analyst T. Nikic now anticipates that the textile maker will post earnings per share of $2.05 for the year, down from their previous estimate of $2.07. The consensus estimate for V.F.’s current full-year earnings is $2.07 per share. Wedbush also issued estimates for V.F.’s Q4 2023 earnings at $0.12 EPS, Q2 2024 earnings at $0.65 EPS, Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $1.88 EPS.

V.F. (NYSE:VFC – Get Rating) last issued its earnings results on Tuesday, May 23rd. The textile maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. V.F. had a net margin of 3.54% and a return on equity of 27.87%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period last year, the business posted $0.45 EPS. V.F.’s revenue was down 3.0% on a year-over-year basis.

Other research analysts have also recently issued reports about the stock. Robert W. Baird lowered their price target on shares of V.F. from $30.00 to $24.00 in a report on Monday, March 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $36.00 target price on shares of V.F. in a report on Wednesday, February 8th. Barclays lowered their target price on shares of V.F. from $31.00 to $26.00 in a report on Tuesday, May 2nd. Wells Fargo & Company raised shares of V.F. from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $18.00 to $22.00 in a report on Friday, May 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of V.F. from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, February 6th. Three equities research 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.37.

V.F. Stock Down 3.0 %

V.F. stock opened at $18.97 on Tuesday. The stock has a market cap of $7.37 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.76 and a beta of 1.44. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.39. V.F. has a twelve month low of $18.53 and a twelve month high of $51.40. The company’s 50-day moving average price is $21.67 and its two-hundred day moving average price is $26.14.

Hedge Funds Weigh In On V.F.

Hedge funds have recently modified their holdings of the business. TCI Wealth Advisors Inc. lifted its holdings in shares of V.F. by 345.7% during the fourth quarter. TCI Wealth Advisors Inc. now owns 927 shares of the textile maker’s stock worth $26,000 after purchasing an additional 719 shares during the period. SJS Investment Consulting Inc. raised its stake in V.F. by 50.4% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,006 shares of the textile maker’s stock worth $28,000 after buying an additional 337 shares during the last quarter. General Partner Inc. bought a new position in V.F. during the fourth quarter worth $30,000. Guardian Wealth Advisors LLC bought a new position in V.F. during the third quarter worth $33,000. Finally, Bogart Wealth LLC raised its stake in V.F. by 878.9% during the fourth quarter. Bogart Wealth LLC now owns 1,116 shares of the textile maker’s stock worth $31,000 after buying an additional 1,002 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

Insider Buying and Selling at V.F.

In other V.F. news, Director Carol L. Roberts purchased 7,109 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were bought at an average price of $21.07 per share, for a total transaction of $149,786.63. Following the completion of the acquisition, the director now owns 7,109 shares in the company, valued at $149,786.63. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

V.F. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Monday, June 12th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.33%. V.F.’s dividend payout ratio is currently 112.15%.

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.