VF Corporation Declares Quarterly Dividend of $0.09 (NYSE:VFC)

VF Corporation (NYSE:VFC) declared a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Tuesday, December 10th will be given a dividend of 0.09 per share by the textile maker on Wednesday, December 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.11%.

VF has decreased its dividend by an average of 20.0% per year over the last three years. VF has a payout ratio of 39.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect VF to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 43.4%.

VF Trading Up 1.8 %

VFC stock traded up $0.30 during mid-day trading on Monday, hitting $17.03. 11,582,848 shares of the company were exchanged, compared to its average volume of 8,189,645. The business has a fifty day simple moving average of $18.52 and a 200-day simple moving average of $15.55. The firm has a market capitalization of $6.63 billion, a P/E ratio of -5.75, a PEG ratio of 3.27 and a beta of 1.53. VF has a 12-month low of $11.00 and a 12-month high of $21.40. The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84.

VF (NYSE:VFC) last announced its earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.04. VF had a positive return on equity of 11.75% and a negative net margin of 11.39%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts predict that VF will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Carucci acquired 15,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $16.70 per share, with a total value of $250,500.00. Following the transaction, the director now owns 230,178 shares of the company’s stock, valued at $3,843,972.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VFC shares. Wedbush reissued a “neutral” rating and issued a $13.00 price objective on shares of VF in a research note on Monday, August 5th. Barclays upgraded VF from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $22.00 in a research note on Wednesday, September 18th. Jefferies Financial Group assumed coverage on VF in a research report on Friday, September 27th. They issued a “hold” rating and a $20.00 price target on the stock. Citigroup raised VF from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $20.00 in a research report on Thursday, July 18th. Finally, StockNews.com upgraded shares of VF from a “sell” rating to a “hold” rating in a research note on Saturday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.24.

VF Company Profile

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.