V.F. (NYSE:VFC) PT Lowered to $19.00 at Wedbush

V.F. (NYSE:VFC – Get Rating) had its target price cut by Wedbush from $29.00 to $19.00 in a report issued on Monday morning, The Fly reports. Wedbush also issued estimates for V.F.’s Q4 2023 earnings at $0.12 EPS, FY2023 earnings at $2.05 EPS, Q1 2024 earnings at ($0.02) EPS, Q2 2024 earnings at $0.65 EPS, Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $1.88 EPS and FY2025 earnings at $2.15 EPS.

Several other research firms have also commented on VFC. BMO Capital Markets increased their target price on V.F. from $27.00 to $28.00 and gave the company a market perform rating in a report on Wednesday, February 8th. BTIG Research restated a neutral rating on shares of V.F. in a research report on Tuesday, February 7th. Williams Trading raised V.F. from a sell rating to a buy rating in a report on Monday, March 20th. Edward Jones raised V.F. from a hold rating to a buy rating in a research note on Thursday, April 13th. Finally, JPMorgan Chase & Co. reduced their target price on V.F. from $23.00 to $20.00 and set an underweight rating on the stock in a research note on Wednesday, February 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, V.F. currently has a consensus rating of Hold and an average target price of $28.42.

V.F. Trading Down 4.9 %

Shares of VFC opened at $17.45 on Monday. The business has a 50-day moving average of $21.54 and a 200 day moving average of $26.02. The firm has a market cap of $6.78 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 2.78 and a beta of 1.44. V.F. has a fifty-two week low of $17.43 and a fifty-two week high of $51.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.58 and a current ratio of 1.15.

V.F. (NYSE:VFC – Get Rating) last released its earnings results on Tuesday, May 23rd. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. V.F. had a return on equity of 25.10% and a net margin of 1.02%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, research analysts forecast that V.F. will post 2.15 EPS for the current year.

V.F. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Monday, June 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend is Friday, June 9th. V.F.’s dividend payout ratio (DPR) is currently 387.11%.

Insider Activity

In related news, Director Carol L. Roberts acquired 7,109 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was acquired at an average price of $21.07 per share, with a total value of $149,786.63. Following the acquisition, the director now directly owns 7,109 shares of the company’s stock, valued at $149,786.63. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On V.F.

Several hedge funds have recently modified their holdings of VFC. M&G Investment Management Ltd. grew its holdings in V.F. by 33.7% during the 4th quarter. M&G Investment Management Ltd. now owns 2,833,728 shares of the textile maker’s stock worth $79,344,000 after acquiring an additional 714,611 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of V.F. by 138.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 65,650 shares of the textile maker’s stock valued at $1,964,000 after buying an additional 38,160 shares in the last quarter. Arizona State Retirement System grew its holdings in V.F. by 4.2% during the 4th quarter. Arizona State Retirement System now owns 93,471 shares of the textile maker’s stock worth $2,581,000 after acquiring an additional 3,748 shares during the last quarter. BlackRock Inc. grew its holdings in V.F. by 1.3% during the 3rd quarter. BlackRock Inc. now owns 26,308,313 shares of the textile maker’s stock worth $786,882,000 after acquiring an additional 336,122 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of V.F. by 10.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,200 shares of the textile maker’s stock worth $2,668,000 after acquiring an additional 8,202 shares in the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

V.F. Company Profile

(Get Rating)

VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, and Work. The Outdoor segment refers to authentic outdoor-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.