V.F. Sees Unusually High Options Volume (NYSE:VFC)

Key Points

• Unusual options activity: Traders bought 40,284 put options on V.F., a 191% increase over the typical daily put volume of 13,830, indicating elevated bearish positioning in the options market.
• Earnings and share performance: V.F. beat quarterly estimates with EPS of $0.58 (vs. $0.43) and revenue of $2.88B (vs. $2.81B), while shares traded around $17.25 (50-day MA $19.59, 200-day MA $17.11).
• Dividend and ownership moves: The company declared a $0.09 quarterly dividend (annualized $0.36, yield 2.1%), a director sold 6,678 shares recently, and institutional investors own roughly 86.8% of the stock.

V.F. Corporation (NYSE:VFC - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 40,284 put options on the company. This represents an increase of 191% compared to the typical daily volume of 13,830 put options.

V.F. Price Performance

Shares of NYSE VFC traded down $0.03 during midday trading on Tuesday, hitting $17.25. 1,070,625 shares of the company's stock were exchanged, compared to its average volume of 6,949,216. The company has a current ratio of 1.55, a quick ratio of 1.03 and a debt-to-equity ratio of 1.99. The business's fifty day moving average price is $19.59 and its two-hundred day moving average price is $17.11. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.19 and a beta of 1.64. V.F. has a 12-month low of $9.41 and a 12-month high of $21.92.

V.F. (NYSE:VFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The textile maker reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.15. V.F. had a net margin of 2.33% and a return on equity of 19.08%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that V.F. will post 0.73 EPS for the current fiscal year.

V.F. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, March 10th. V.F.'s dividend payout ratio is presently 65.45%.

Wall Street Analysts Forecast Growth

VFC has been the subject of a number of research reports. Truist Financial set a $18.00 target price on shares of V.F. in a research report on Wednesday, January 14th. Argus upgraded V.F. to a "strong-buy" rating in a research report on Wednesday, February 11th. Barclays reiterated an "overweight" rating on shares of V.F. in a research report on Thursday, January 29th. Weiss Ratings raised V.F. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $18.00 target price (down from $19.00) on shares of V.F. in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.16.

Insider Activity at V.F.

In other V.F. news, Director Juliana L. Chugg sold 6,678 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $21.30, for a total transaction of $142,241.40. Following the completion of the transaction, the director directly owned 40 shares of the company's stock, valued at approximately $852. This represents a 99.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On V.F.

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in V.F. by 14.0% in the fourth quarter. Russell Investments Group Ltd. now owns 659,773 shares of the textile maker's stock worth $11,930,000 after buying an additional 81,006 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of V.F. by 28.0% during the fourth quarter. Captrust Financial Advisors now owns 90,873 shares of the textile maker's stock worth $1,643,000 after acquiring an additional 19,880 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of V.F. by 0.8% in the 4th quarter. New York State Common Retirement Fund now owns 540,861 shares of the textile maker's stock worth $9,779,000 after acquiring an additional 4,249 shares during the last quarter. Optimize Financial Inc lifted its holdings in shares of V.F. by 1.5% in the 4th quarter. Optimize Financial Inc now owns 40,379 shares of the textile maker's stock worth $730,000 after acquiring an additional 580 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of V.F. by 151.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,915 shares of the textile maker's stock valued at $125,000 after purchasing an additional 4,167 shares in the last quarter. 86.84% of the stock is owned by hedge funds and other institutional investors.

About V.F.

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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