VF (NYSE:VFC) Hits New 52-Week High on Analyst Upgrade

VF Corporation (NYSE:VFC)’s stock price reached a new 52-week high on Tuesday after Jefferies Financial Group raised their price target on the stock from $21.00 to $24.00. Jefferies Financial Group currently has a hold rating on the stock. VF traded as high as $26.57 and last traded at $26.93, with a volume of 477217 shares changing hands. The stock had previously closed at $25.99.

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of VF in a research report on Friday, October 11th. They set a “neutral” rating and a $20.00 price target for the company. Argus raised VF from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, December 17th. Stifel Nicolaus boosted their price objective on VF from $21.00 to $25.00 and gave the company a “buy” rating in a report on Monday, October 14th. Truist Financial initiated coverage on VF in a report on Thursday, December 5th. They issued a “hold” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price target on VF from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.84.

Institutional Investors Weigh In On VF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CKW Financial Group lifted its position in VF by 29.4% in the 4th quarter. CKW Financial Group now owns 2,200 shares of the textile maker’s stock worth $47,000 after buying an additional 500 shares in the last quarter. TB Alternative Assets Ltd. acquired a new position in VF during the fourth quarter valued at approximately $1,878,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of VF by 100.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,017 shares of the textile maker’s stock worth $129,000 after purchasing an additional 3,008 shares during the period. Fiduciary Alliance LLC increased its stake in shares of VF by 6.8% in the fourth quarter. Fiduciary Alliance LLC now owns 256,531 shares of the textile maker’s stock worth $5,505,000 after purchasing an additional 16,431 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in shares of VF by 1.8% in the third quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock worth $73,084,000 after purchasing an additional 65,919 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.

VF Stock Performance

The business has a 50 day moving average price of $21.98 and a 200 day moving average price of $19.61. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.30 and a quick ratio of 0.88.

VF (NYSE:VFC) last released its earnings results on Wednesday, January 29th. The textile maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.34 by $0.28. VF had a negative net margin of 6.68% and a positive return on equity of 12.53%. During the same quarter in the previous year, the company posted $0.57 earnings per share. Analysts anticipate that VF Corporation will post 0.48 EPS for the current year.

VF Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.42%. VF’s dividend payout ratio (DPR) is currently -20.81%.

VF Company Profile

VF Corp. engages in the business of producing and marketing apparel, footwear, and accessories. It operates through the following segments: Outdoor, Active, Work, and Other. The Outdoor segment includes authentic outdoor-based lifestyle brands such as performance-based and outdoor apparel, footwear, and equipment.