VF (NYSE:VFC) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

VF Corporation (NYSE:VFC)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.94 and traded as high as $22.03. VF shares last traded at $21.88, with a volume of 1,835,946 shares changing hands.

Analysts Set New Price Targets

VFC has been the topic of a number of research analyst reports. Barclays boosted their target price on VF from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group assumed coverage on shares of VF in a research report on Friday, September 27th. They set a “hold” rating and a $20.00 price objective for the company. Truist Financial assumed coverage on shares of VF in a report on Thursday, December 5th. They issued a “hold” rating and a $20.00 target price on the stock. Telsey Advisory Group boosted their price objective on shares of VF from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Citigroup boosted their price objective on shares of VF from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.11.

VF Price Performance

The stock’s 50-day simple moving average is $20.35 and its 200 day simple moving average is $17.94. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86. The company has a market cap of $8.52 billion, a price-to-earnings ratio of -12.65, a PEG ratio of 8.19 and a beta of 1.49.

VF (NYSE:VFC) last announced its earnings results on Monday, October 28th. The textile maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.19. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.72 billion. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. VF’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. On average, equities research analysts anticipate that VF Corporation will post 0.48 EPS for the current fiscal year.

VF Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.65%. VF’s dividend payout ratio (DPR) is -20.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC lifted its holdings in VF by 1.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock worth $73,084,000 after buying an additional 65,919 shares during the last quarter. Principal Financial Group Inc. raised its holdings in VF by 328.0% during the second quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker’s stock worth $21,922,000 after purchasing an additional 1,244,448 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in VF by 90.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock worth $2,737,000 after acquiring an additional 96,442 shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in VF in the third quarter valued at $640,000. Finally, Smith Thornton Advisors LLC acquired a new position in VF in the second quarter valued at $436,000. 86.84% of the stock is owned by institutional investors and hedge funds.

About VF

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.