Wells Fargo & Company Downgrades VF (NYSE:VFC) to Underweight

VF (NYSE:VFC) was downgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $15.00 price objective on the textile maker’s stock, down from their previous price objective of $16.00. Wells Fargo & Company‘s target price would indicate a potential downside of 23.00% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on VFC. Robert W. Baird boosted their target price on shares of VF from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Citigroup raised VF from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $20.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. reduced their target price on VF from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, September 16th. The Goldman Sachs Group initiated coverage on shares of VF in a report on Friday, October 11th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Argus raised shares of VF to a “hold” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, VF currently has a consensus rating of “Hold” and an average price target of $17.24.

VF Trading Up 0.6 %

NYSE:VFC opened at $19.48 on Monday. VF has a 12 month low of $11.00 and a 12 month high of $21.40. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. The firm’s 50 day moving average is $18.38 and its 200 day moving average is $15.32. The stock has a market capitalization of $7.58 billion, a PE ratio of -7.79, a price-to-earnings-growth ratio of 2.27 and a beta of 1.53.

VF (NYSE:VFC) last announced its quarterly earnings data on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.85 billion. VF had a positive return on equity of 11.75% and a negative net margin of 11.39%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. Sell-side analysts expect that VF will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In other VF news, Director Richard Carucci acquired 15,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was bought at an average price of $16.70 per share, with a total value of $250,500.00. Following the purchase, the director now owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On VF

A number of large investors have recently bought and sold shares of the stock. M&G Plc bought a new stake in shares of VF in the first quarter worth about $200,768,000. Pacer Advisors Inc. grew its position in shares of VF by 28.0% in the 2nd quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock worth $159,609,000 after buying an additional 2,589,852 shares during the last quarter. Capital World Investors purchased a new position in shares of VF during the first quarter valued at approximately $30,527,000. Principal Financial Group Inc. raised its holdings in shares of VF by 328.0% during the second 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 in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in VF by 1,365.2% in the second quarter. Public Sector Pension Investment Board now owns 727,148 shares of the textile maker’s stock worth $9,816,000 after acquiring an additional 677,519 shares during the period. 86.84% of the stock is owned by hedge funds and other 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.