On Oct 21, V.F. Corporation, which owns North Face, Timberland and Lee jeans, among other brands, reported earnings which easily beat the Zacks Consensus Estimate. It announced it was raising its dividend 21%.
But V.F. surprised Wall Street by also announcing a 4-for-1 stock split.
Shares were trading around $210 at the time of the announcement.
When was the last time you heard about a company splitting its shares?
Share splits seems to be a rare occurrence these days even with stocks at record highs. And it's not like there aren't plenty of other companies whose shares are over $200.
Here's a list of just some of the highest priced stocks:
CF Industries (CF): $208
LinkedIn (LNKD): $241
W.W. Grainger (GWW): $265
NewMarket (NEU): $308
Netflix (NFLX): $328
AutoZone (AZO): $428
Apple (AAPL): $527
MasterCard (MA): $723
Google (GOOG): $1016
Priceline (PCLN): $1073
As an investor, are you drawn in by a high stock price?
Or does it discourage you from buying shares?