) touched a new 52-week high of $238.25 on Dec 2, 2013, beating
its previous high of $237.18 on Nov 29. The shares of this Zacks
Rank #3 (Hold) stock eventually closed at $235.74. Since the
company announced robust third-quarter 2013 results, along with a
4:1 stock split and a 21% hike in the quarterly dividend, the
stock has been gaining momentum. This year, shares of VF Corp.
have been performing well, and have amassed a year-to-date return
Average volume of shares traded over the last three months was
approximately 568.3K. Moreover, the company currently trades at a
forward P/E of 21.5, a 16.2% premium to the peer group average of
18.5x. The last traded price is 2.8% above the Zacks Consensus
average analyst price target of $229.39.
Investors became more optimistic about this footwear and apparel
retailer 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 rose 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 the
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) payable on Dec 20, 2013 to
shareholders of record date as of Dec 10, 2013.
An impressive record of beating the quarterly earnings
expectations, sustained focus on geographic expansion and
effective implementation of long-term growth strategies position
this global retailer well and boosts investor sentiment.
Apart from V.F. Corp, other stocks such as
Foot Locker, Inc.
American Express Company
) achieved new 52-week highs of $80.14, $39.30 and $86.53,
respectively, on Dec 2, 2013.
AMER EXPRESS CO (AXP): Free Stock Analysis
FOOT LOCKER INC (FL): Free Stock Analysis
NIKE INC-B (NKE): Free Stock Analysis Report
V F CORP (VFC): Free Stock Analysis Report
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