VF (NYSE:VFC) Downgraded by Wells Fargo & Company

Wells Fargo & Company downgraded shares of VF (NYSE:VFC) from an equal weight rating to an underweight rating in a research note published on Monday, MarketBeat reports. Wells Fargo & Company currently has $15.00 price target on the textile maker’s stock, down from their prior price target of $16.00.

VFC has been the subject of several other reports. Barclays upgraded shares of VF from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $22.00 in a research note on Wednesday, September 18th. Argus upgraded shares of VF to a “hold” rating in a research note on Wednesday, August 28th. UBS Group raised their target price on shares of VF from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Jefferies Financial Group began coverage on shares of VF in a research note on Friday, September 27th. They issued a “hold” rating and a $20.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of VF from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.24.

VF Stock Performance

Shares of VFC stock opened at $19.78 on Monday. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of -6.55, a PEG ratio of 2.17 and a beta of 1.53. The company’s 50 day moving average is $18.46 and its 200 day moving average is $15.38. The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84. VF has a 52-week low of $11.00 and a 52-week high of $21.40.

VF (NYSE:VFC) last announced its earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.04. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.85 billion. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. VF’s revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. On average, sell-side analysts anticipate that VF will post 0.73 EPS for the current fiscal year.

VF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 10th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.36 dividend on an annualized basis and a yield of 1.82%. VF’s payout ratio is -11.92%.

Insider Buying and Selling at VF

In other news, Director Richard Carucci acquired 15,000 shares of the business’s stock in a transaction on 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 completion of the acquisition, the director now owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of VF by 328.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker’s stock worth $21,922,000 after purchasing an additional 1,244,448 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of VF by 90.7% during 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 purchasing an additional 96,442 shares during the last quarter. Compass Wealth Management LLC acquired a new position in shares of VF during the 1st quarter worth about $2,574,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of VF during the 2nd quarter worth about $1,668,000. Finally, Fiduciary Alliance LLC acquired a new position in shares of VF during the 1st quarter worth about $2,002,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

About VF

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.