V.F. Co. (NYSE:VFC) Declares Quarterly Dividend of $0.09

V.F. Co. (NYSE:VFC) announced a quarterly dividend on Wednesday, May 22nd, Wall Street Journal reports. Stockholders of record on Monday, June 10th will be paid a dividend of 0.09 per share by the textile maker on Thursday, June 20th. This represents a $0.36 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, June 10th.

V.F. has decreased its dividend by an average of 20.0% annually over the last three years. V.F. has a dividend payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect V.F. to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 21.4%.

V.F. Stock Down 2.9 %

Shares of NYSE VFC opened at $11.97 on Friday. V.F. has a 12 month low of $11.00 and a 12 month high of $21.17. The company has a current ratio of 1.23, a quick ratio of 0.70 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -4.79, a PEG ratio of 1.43 and a beta of 1.49. The business has a 50-day moving average of $13.29 and a 200-day moving average of $15.65.

V.F. (NYSE:VFC) last issued its quarterly earnings data on Wednesday, May 22nd. The textile maker reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.34). V.F. had a positive return on equity of 12.18% and a negative net margin of 9.27%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. Sell-side analysts expect that V.F. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VFC has been the subject of several recent analyst reports. Bank of America cut their price objective on V.F. from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Thursday. Citigroup cut their target price on V.F. from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company cut their target price on V.F. from $14.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday. BMO Capital Markets cut their target price on V.F. from $18.00 to $13.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $13.00 target price (down previously from $18.00) on shares of V.F. in a research note on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, V.F. currently has a consensus rating of “Hold” and a consensus target price of $14.59.

V.F. Company Profile

V.F. Corporation, together with its subsidiaries, engages in the design, 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 three segments: Outdoor, Active, and Work.