VF Corp (VFC) is Downgraded by Buckingham Research to Neutral

VF Corp (VFC) was Downgraded by Buckingham Research to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Buckingham Research advised their investors in a research report released on Sep 2, 2016.

Many Wall Street Analysts have commented on VF Corp. VF Corp was Downgraded by Brean Capital to ” Hold” on Jul 15, 2016.

On the company’s financial health, VF Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.34. The company had revenue of $2445.30 million for the quarter, compared to analysts expectations of $2526.79 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

VF Corp closed down -0.49 points or -0.79% at $61.56 with 31,50,298 shares getting traded on Thursday. Post opening the session at $61.34, the shares hit an intraday low of $60.86 and an intraday high of $61.58 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Investors should note that on Jul 22, 2016, VF Corp announced a cash dividend of $0.3700. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 19, 2016.

In a different news, on Aug 22, 2016, Eric C Wiseman (Chairman & CEO) sold 264,816 shares at $64.41 per share price. According to the SEC, on Mar 3, 2016, Steven E Rendle (President & COO) sold 53,800 shares at $66.13 per share price. On Mar 2, 2016, Scott A. Roe (VP & CFO) sold 6,512 shares at $65.48 per share price, according to the Form-4 filing with the securities and exchange commission.

V.F. Corporation (VF) is engaged in the design manufacturing marketing and distribution of branded lifestyle apparel footwear and accessories. The Company operates through five coalitions: Outdoor & Action Sports Jeanswear Imagewear Sportswear and Contemporary Brands. The Company owns a portfolio of brands in the outerwear footwear denim backpack luggage accessory sportswear occupational and performance apparel categories. The Company’s brands primarily include The North Face Vans Timberland Wrangler Lee and Nautica. The Company’s products are marketed to consumers shopping in specialty stores upscale and traditional department stores national chains mass merchants and its own direct-to-consumer operations. Its direct-to-consumer business includes VF-operated stores concession retail stores and e-commerce sites. The Company’s brands sell products in international markets through licensees distributors and independently-operated partnership stores.

VF Corp

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