V.F. Corporation Plans Quarterly Dividend of $0.09 (NYSE:VFC)

Key Points

• V.F. declared a quarterly dividend of $0.09 per share, payable September 17 to shareholders of record September 10. The payment implies a 2.4% annualized yield and is covered by earnings.
• V.F. reported quarterly revenue of $1.67 billion, exceeding estimates, but posted an adjusted loss of $0.27 per share, missing consensus by $0.05. Revenue declined 5.2% year over year.
• Shares fell $3.20 to $15.05 during Wednesday trading, while a company director purchased 30,000 shares worth approximately $515,100 in June.

V.F. Corporation (NYSE:VFC - Get Free Report) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Thursday, September 10th will be given a dividend of 0.09 per share by the textile maker on Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 10th.

V.F. has decreased its dividend payment by an average of 0.3%per year over the last three years. V.F. has a dividend payout ratio of 33.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect V.F. to earn $1.37 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 26.3%.

V.F. Stock Performance

Shares of VFC stock traded down $3.20 during trading on Wednesday, reaching $15.05. 27,819,193 shares of the company's stock were exchanged, compared to its average volume of 7,245,357. V.F. has a twelve month low of $11.10 and a twelve month high of $22.27. The firm's fifty day moving average price is $16.91 and its 200-day moving average price is $18.11. The company has a quick ratio of 1.21, a current ratio of 1.84 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $5.90 billion, a PE ratio of 23.51, a PEG ratio of 1.20 and a beta of 1.56.

V.F. (NYSE:VFC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The textile maker reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. V.F. had a return on equity of 21.05% and a net margin of 2.65%.The company's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.24) earnings per share. As a group, sell-side analysts anticipate that V.F. will post 1.09 EPS for the current year.

Insider Activity at V.F.

In related news, Director Richard Carucci purchased 30,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $17.17 per share, with a total value of $515,100.00. Following the completion of the purchase, the director directly owned 336,043 shares in the company, valued at $5,769,858.31. This trade represents a 9.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.54% of the company's stock.

Hedge Funds Weigh In On V.F.

Several hedge funds have recently bought and sold shares of VFC. Russell Investments Group Ltd. lifted its holdings in shares of V.F. by 1.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 578,767 shares of the textile maker's stock worth $8,352,000 after acquiring an additional 10,881 shares during the period. Fiduciary Alliance LLC increased its stake in V.F. by 10.3% in the fourth quarter. Fiduciary Alliance LLC now owns 647,496 shares of the textile maker's stock valued at $11,707,000 after acquiring an additional 60,619 shares during the last quarter. Quent Capital LLC raised its position in V.F. by 1,635.2% during the fourth quarter. Quent Capital LLC now owns 13,170 shares of the textile maker's stock valued at $238,000 after purchasing an additional 12,411 shares in the last quarter. Handelsbanken Fonder AB raised its position in V.F. by 19.1% during the fourth quarter. Handelsbanken Fonder AB now owns 112,000 shares of the textile maker's stock valued at $2,025,000 after purchasing an additional 18,000 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in V.F. by 151.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,915 shares of the textile maker's stock worth $125,000 after purchasing an additional 4,167 shares during the last quarter. 86.84% of the stock is owned by institutional investors.

V.F. Company Profile

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.

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