Stock analysts offer forecast for VF Co.’s third-quarter 2023 earnings (NYSE:VFC)

VF Co. (NYSE:VFC – Get Rating) – Stock analysts at Telsey Advisory Group raised their third quarter 2023 earnings per share estimates for VF shares in a research report delivered to clients and investors on Friday July 29. Telsey Advisory Group analyst D. Telsey now expects the textile maker to post earnings of $1.51 per share for the quarter, up from its previous estimate of $1.46. Telsey Advisory Group has an “Outperform” rating and a price target of $65.00 on the stock. The consensus estimate of VF’s current annual earnings is $3.31 per share. Telsey Advisory Group also released estimates for VF FY2023 earnings at $3.12, Q1 2024 earnings at $0.19, Q2 2024 earnings at $1.09, Q3 earnings 2024 at $1.67, Q4 2024 earnings at $0.56, and FY2024 earnings at $3.50.

VF (NYSE:VFC – Get Rating) last released its quarterly earnings data on Thursday, May 19. The textile maker reported EPS of $0.45 for the quarter, meeting analyst consensus estimates of $0.45. VF had a return on equity of 35.47% and a net margin of 11.71%. The company posted revenue of $2.82 billion for the quarter, versus a consensus estimate of $2.83 billion. In the same quarter of the previous year, the company achieved EPS of $0.27. The company’s quarterly revenue increased by 9.4% compared to the same quarter last year.

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Other equity research analysts have also published reports on the company. UBS Group reduced its target price on VF from $65.00 to $55.00 in a Friday, May 13 research report. BTIG Research lowered its price target on VF from $67.00 to $60.00 in a research report on Friday. Cowen lowered his price target on VF to $59.00 in a Monday, July 25 research report. Cowen lowered his price target on VF from $72.00 to $61.00 in a Wednesday, May 18 research report. Finally, Goldman Sachs Group lowered its price target on VF from $40.00 to $35.00 and placed a “sell” rating on the stock in a Thursday, July 21 research report. Two analysts have assigned the stock a sell rating, eleven have issued a hold rating and eight have assigned the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.17.

VF stock down 8.0%

VFC opened at $44.68 on Monday. VF has a one-year low of $43.08 and a one-year high of $83.64. The company has a debt ratio of 1.30, a quick ratio of 0.96 and a current ratio of 1.38. The stock’s fifty-day moving average is $46.87 and its 200-day moving average is $53.56. The company has a market capitalization of $17.36 billion, a PE ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 1.41.

VF dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 20. Investors of record on Monday, September 12 will receive a dividend of $0.50 per share. The ex-dividend date is Friday, September 9. This represents an annualized dividend of $2.00 and a dividend yield of 4.48%. VF’s payout ratio is currently 56.66%.

Insider buying and selling

In other VF news, W Manager Rodney Mcmullen acquired 3,000 shares of the company in a deal that took place on Tuesday, May 31. The shares were acquired at an average price of $49.99 per share, with a total value of $149,970.00. Following the transaction, the director now owns 28,125 shares of the company, valued at $1,405,968.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. In other VF news, W Manager Rodney Mcmullen acquired 3,000 shares of the company in a deal that took place on Tuesday, May 31. The shares were acquired at an average price of $49.99 per share, with a total value of $149,970.00. Following the transaction, the director now owns 28,125 shares of the company, valued at $1,405,968.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Additionally, Chief Financial Officer Matthew H. Puckett sold 677 shares of the company in a trade that took place on Friday, May 27. The shares were sold at an average price of $49.87, for a total value of $33,761.99. Following completion of the transaction, the CFO now directly owns 44,691 shares of the company, valued at approximately $2,228,740.17. The disclosure of this sale can be found here. In the past 90 days, insiders have purchased 16,000 shares of the company worth $740,070. Insiders own 0.90% of the shares of the company.

Hedge funds weigh on VF

Several large investors have recently increased or reduced their stake in VFC. Capital International Investors increased its stake in VF by 81.8% in the 4th quarter. Capital International Investors now owns 21,740,758 shares of the textile maker valued at $1,591,858,000 after acquiring 9,782,346 additional shares last quarter. Vanguard Group Inc. increased its stake in VF by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 40,200,890 shares of the textile maker valued at $2,285,822,000 after acquiring an additional 5,626,337 shares last quarter. Norges Bank acquired a new position in shares of VF in Q4 worth approximately $213,383,000. Diamond Hill Capital Management Inc. increased its equity stake in VF by 29.2% in Q1. Diamond Hill Capital Management Inc. now owns 7,628,798 shares of the textile maker worth $433,773,000 after buying an additional 1,723,365 shares last quarter. Finally, State Street Corp increased its stake in VF shares by 9.8% in the 4th quarter. State Street Corp now owns 17,918,285 shares of the textile maker worth $1,311,977,000 after buying an additional 1,596,886 shares last quarter. Institutional investors and hedge funds own 88.25% of the company’s shares.

VF Company Profile

(Get a rating)

VF Corporation, together with its subsidiaries, is engaged in the design, sourcing, marketing and distribution of branded apparel, footwear and related products for men, women and children in the Americas, Europe and in Asia-Pacific. It operates through three segments: Outdoor, Active and Work.

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Earnings history and estimates for VF (NYSE: VFC)

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