V.F. Corp Hits 52-week High - Analyst Blog
November 27 2013 - 9:00AM
Zacks
Shares of V.F. Corporation (VFC) touched a new
52-week high of $235.65 on Tuesday, Nov 26, 2013, beating its
previous high of $226.85 on Nov 18. The shares of this Zacks Rank
#3 (Hold) stock eventually closed at $234.40. The stock has gained
momentum since the company announced robust third-quarter 2013
results, along with a 4:1 stock split and a 21% hike in the
quarterly dividend. This year, shares of this global retailer have
been performing well, with a recorded year-to-date return of
55.9%.
Average volume of shares traded over the last three months was
approximately 573.6K. Moreover, the company currently trades at a
forward P/E of 21.4, a 14.4% premium to the peer group average of
18.7x. Additionally, the company’s long-term estimated EPS growth
rate is 12.2%.
Investors became more optimistic on the stock after the company
reported quarterly earnings per share of $3.91, surpassing the
Zacks Consensus Estimate by 3.7% and rising 11.1% from the year-ago
quarter.
V.F. Corp.'s total revenue of $3,266.7 million grew 4.7% from
$3,119.6 million in the year-ago period, on the back of robust
growth in Outdoor & Action Sports, Jeanswear and International
as well as Direct-to-Consumer revenues.
Further, the company’s announcement of a 21% hike in quarterly
dividend boosted the stock. V.F. Corp. will pay a dividend of $1.05
per share on a pre-split basis (recently it approved a four-for-one
stock split) to be payable on Dec 20, 2013 to shareholders of
record date as of Dec 10, 2013.
V.F. Corp’s history of positive earnings surprises make investors
optimistic about the stock. We observe that the company has
exceeded the Zacks Consensus Estimate in the past four quarters by
an average of 6.4%.
Going forward, we believe that with its operational efficiencies, a
formidable brand portfolio and constant product innovation, V.F.
Corp is well positioned to generate healthy sales. The company’s
exclusive assortments remain popular among consumers and provide a
competitive edge.
Apart from V.F. Corporation, other retail stocks such as L
brands Inc. (LTD), Whirlpool Corp. (WHR)
and Macy’s Inc. (M) achieved new 52-week highs of
$65.49, $154.00 and $53.14, respectively, on Nov 26, 2013.
L BRANDS INC (LTD): Free Stock Analysis Report
MACYS INC (M): Free Stock Analysis Report
V F CORP (VFC): Free Stock Analysis Report
WHIRLPOOL CORP (WHR): Free Stock Analysis Report
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