VF Corp. [NYSE: VFC] price surged by 13.99 percent to reach at $2.14. The company report on February 6, 2024 at 4:05 PM that VF Corporation Reports Third Quarter Fiscal 2024 Results and Announces Strategic Portfolio Review.
VF Corporation (NYSE: VFC) today reported financial results for its third quarter (Q3’FY24) ended December 30, 2023, announcing a quarterly per share dividend of $0.09 and reiterating FY24 free cash flow guidance.
Bracken Darrell, President and CEO, said: “Our third quarter top-line performance was disappointing. However, we are confident the actions we are implementing as part of Reinvent will enable VF to stabilize and then grow revenue and improve operational performance across brands and regions. We have already begun to see the impact of our efforts to right-size the company’s cost structure and improve its inventory position, resulting in stronger than expected cash flow and expanded gross margin in the quarter. This quarter marked the beginning of the next phase of our transformation plan: resetting the marketplace for Vans, reviewing our brand portfolio and continuing to build the organization of the future. As we approach the end of this fiscal year, my confidence in VF’s future is rising.”.
The one-year VFC stock forecast points to a potential downside of -4.24. The average equity rating for VFC stock is currently 2.74, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on VF Corp. [VFC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VFC shares is $16.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VFC stock is a recommendation set at 2.74. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for VF Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 07, 2024.
The Average True Range (ATR) for VF Corp. is set at 0.94, with the Price to Sales ratio for VFC stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 3.21, with the Price to Cash per share for the same quarter was set at 2.54. Price to Free Cash Flow for VFC in the course of the last twelve months was 6.05 with Quick ratio for the last quarter at 0.70.
VFC Stock Performance Analysis:
VF Corp. [VFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.51. With this latest performance, VFC shares gained by 2.83% in over the last four-week period, additionally sinking by -15.38% over the last 6 months – not to mention a drop of -33.00% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VFC stock in for the last two-week period is set at 55.34, with the RSI for the last a single of trading hit 59.89, and the three-weeks RSI is set at 52.96 for VF Corp. [VFC]. The present Moving Average for the last 50 days of trading for this stock 17.45, while it was recorded at 16.07 for the last single week of trading, and 18.27 for the last 200 days.
Insight into VF Corp. Fundamentals:
VF Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.23.
VFC Stock EPS
With the latest financial reports released by the company, VF Corp. posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VFC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for VF Corp. go to 0.20%.
VF Corp. [VFC] Institutonal Ownership Details
The top three institutional holders of VFC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VFC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VFC stock with ownership which is approximately 5.8325%.
