Wells Fargo & Company lowered shares of VF (NYSE:VFC – Free Report) from an equal weight rating to an underweight rating in a research note released on Monday morning, MarketBeat reports. The firm currently has $15.00 target price on the textile maker’s stock, down from their previous target price of $16.00.
Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of VF in a report on Friday. They issued a neutral rating and a $20.00 target price on the stock. Barclays upgraded shares of VF from an equal weight rating to an overweight rating and raised their target price for the stock from $19.00 to $22.00 in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on shares of VF from $17.00 to $16.00 and set a neutral rating on the stock in a report on Monday, September 16th. Argus upgraded shares of VF to a hold rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group initiated coverage on shares of VF in a report on Friday, September 27th. They issued a hold rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $17.24.
VF Trading Down 4.8 %
VF (NYSE:VFC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.04. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities research analysts forecast that VF will post 0.73 earnings per share for the current fiscal year.
VF Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.86%. VF’s payout ratio is -11.92%.
Insider Activity
In related news, Director Richard Carucci purchased 15,000 shares of VF stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $16.70 per share, for a total transaction of $250,500.00. Following the acquisition, the director now owns 230,178 shares in the company, valued at approximately $3,843,972.60. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.
Institutional Trading of VF
Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in VF by 328.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker’s stock valued at $21,922,000 after acquiring an additional 1,244,448 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of VF by 90.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock worth $2,737,000 after buying an additional 96,442 shares in the last quarter. Compass Wealth Management LLC purchased a new position in shares of VF in the 1st quarter worth $2,574,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of VF in the 2nd quarter worth $1,668,000. Finally, Fiduciary Alliance LLC purchased a new position in shares of VF in the 1st quarter worth $2,002,000. 86.84% of the stock is currently owned by institutional investors.
VF Company Profile
V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.
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