VF Corp (NYSE:VFC) Raises Dividend to $0.51 Per Share

VF Corp (NYSE:VFC) announced a quarterly dividend on Thursday, May 23rd, Wall Street Journal reports. Stockholders of record on Monday, June 10th will be given a dividend of 0.51 per share by the textile maker on Thursday, June 20th. This represents a $2.04 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, June 7th. This is a positive change from VF’s previous quarterly dividend of $0.48.

VF has raised its dividend payment by an average of 12.4% per year over the last three years and has raised its dividend every year for the last 46 years. VF has a payout ratio of 56.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect VF to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 53.4%.

Shares of VFC stock traded up $0.65 during trading hours on Friday, hitting $87.35. The company had a trading volume of 5,908,433 shares, compared to its average volume of 2,036,467. The company has a market cap of $34.49 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.76 and a quick ratio of 1.03. VF has a 12 month low of $67.18 and a 12 month high of $97.00. The stock’s fifty day moving average is $87.01.

VF (NYSE:VFC) last announced its earnings results on Wednesday, May 22nd. The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.20 billion. VF had a return on equity of 36.62% and a net margin of 9.10%. VF’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. On average, research analysts expect that VF will post 3.34 earnings per share for the current fiscal year.

Several research analysts have issued reports on VFC shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $104.00 price objective (up previously from $96.00) on shares of VF in a report on Thursday, May 23rd. Wedbush reaffirmed an “outperform” rating and set a $98.00 price objective on shares of VF in a report on Thursday, May 23rd. Goldman Sachs Group started coverage on VF in a report on Friday, May 17th. They set a “buy” rating and a $97.00 price objective on the stock. Citigroup reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $90.00) on shares of VF in a report on Monday, March 18th. Finally, Cowen upped their price objective on VF from $90.00 to $100.00 and gave the stock a “positive” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $93.70.

About VF

V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.

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Dividend History for VF (NYSE:VFC)

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