Shares of V.F. Corporation (VFC) touched a new 52-week high of $62.48 on Dec 27, 2013, eventually closing at $61.58. The company currently holds a Zacks Rank #2 (Buy).
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 boost investor sentiment.
The company’s stock has been gaining momentum since it announced robust third-quarter 2013 results, wherein it reported quarterly earnings per share of 98 cents (on a post-split basis), surpassing the Zacks Consensus Estimate by 4.3% and rising approximately 11% from the year-ago quarter.
Investors became more optimistic about this footwear and apparel retailer stock after the company declared 21% hike in the quarterly dividend following its quarterly results.
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.
Average volume of shares traded over the last three months was approximately 2,612.8K. Moreover, the company currently trades at a forward P/E of 22.5x, a 20.8% premium to the peer group average of 18.62x. The last traded price is 4.8% above the Zacks Consensus average analyst price target of $58.75.
This year, shares of VF Corp. have been performing well and amassed a year-to-date return of 67.0%.
Apart from V.F. Corp, other retail stocks such as McGraw Hill Financial, Inc. (MHFI), The Walt Disney Company (DIS) and Tiffany & Co. (TIF) achieved new 52-week highs of $77.59, $74.78 and $92.00, respectively, on Dec 27, 2013.