Fintel reports that on September 18, 2023, Piper Sandler downgraded their outlook for VF (NYSE:VFC) from Overweight to Neutral.
Analyst Price Forecast Suggests 32.61% Upside
As of August 31, 2023, the average one-year price target for VF is 24.08. The forecasts range from a low of 18.18 to a high of $34.65. The average price target represents an increase of 32.61% from its latest reported closing price of 18.16.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for VF is 12,248MM, an increase of 7.09%. The projected annual non-GAAP EPS is 2.37.
VF Declares $0.30 Dividend
On August 1, 2023 the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of September 11, 2023 will receive the payment on September 20, 2023. Previously, the company paid $0.30 per share.
At the current share price of $18.16 / share, the stock’s dividend yield is 6.61%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.71%, the lowest has been 1.84%, and the highest has been 10.24%. The standard deviation of yields is 2.18 (n=236).
The current dividend yield is 1.33 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 6.01. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.05%.
What is the Fund Sentiment?
There are 1171 funds or institutions reporting positions in VF. This is a decrease of 116 owner(s) or 9.01% in the last quarter. Average portfolio weight of all funds dedicated to VFC is 0.09%, a decrease of 17.08%. Total shares owned by institutions decreased in the last three months by 2.27% to 379,330K shares. The put/call ratio of VFC is 0.50, indicating a bullish outlook.
What are Other Shareholders Doing?
Pnc Financial Services Group holds 77,022K shares representing 19.81% ownership of the company. In it’s prior filing, the firm reported owning 77,021K shares, representing an increase of 0.00%. The firm decreased its portfolio allocation in VFC by 19.07% over the last quarter.
Northern Trust holds 23,501K shares representing 6.04% ownership of the company. In it’s prior filing, the firm reported owning 24,894K shares, representing a decrease of 5.93%. The firm increased its portfolio allocation in VFC by 104.21% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 10,939K shares representing 2.81% ownership of the company. In it’s prior filing, the firm reported owning 10,851K shares, representing an increase of 0.81%. The firm decreased its portfolio allocation in VFC by 22.49% over the last quarter.
Capital International Investors holds 9,676K shares representing 2.49% ownership of the company. In it’s prior filing, the firm reported owning 8,733K shares, representing an increase of 9.75%. The firm decreased its portfolio allocation in VFC by 13.41% over the last quarter.
Invesco holds 9,085K shares representing 2.34% ownership of the company. In it’s prior filing, the firm reported owning 7,103K shares, representing an increase of 21.81%. The firm increased its portfolio allocation in VFC by 981.99% over the last quarter.
VF Background Information
(This description is provided by the company.)
Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. The Company’s purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. The Company connects this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good.
This article originally appeared on Fintel
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