Shares of V.F. Co. (NYSE:VFC – Get Rating) dropped 4.7% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $51.00 to $35.00. UBS Group currently has a neutral rating on the stock. V.F. traded as low as $30.34 and last traded at $30.40. Approximately 65,538 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 4,874,311 shares. The stock had previously closed at $31.90.
Several other equities research analysts have also weighed in on the stock. BTIG Research lowered their target price on shares of V.F. from $67.00 to $60.00 in a report on Friday, July 29th. The Goldman Sachs Group decreased their price objective on shares of V.F. from $35.00 to $30.00 and set a “sell” rating on the stock in a report on Thursday, September 29th. BMO Capital Markets decreased their price objective on shares of V.F. from $45.00 to $33.00 and set a “market perform” rating on the stock in a report on Thursday, September 29th. Wells Fargo & Company decreased their price objective on shares of V.F. from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, September 29th. Finally, Barclays decreased their price objective on shares of V.F. from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.60.
Insiders Place Their Bets
In related news, Director W Rodney Mcmullen bought 6,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $44.76 per share, for a total transaction of $268,560.00. Following the acquisition, the director now owns 34,146 shares of the company’s stock, valued at approximately $1,528,374.96. The purchase was disclosed in a filing with the SEC, which is available at this link. In other V.F. news, Director Richard Carucci purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $41.44 per share, with a total value of $414,400.00. Following the purchase, the director now directly owns 115,528 shares of the company’s stock, valued at $4,787,480.32. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director W Rodney Mcmullen purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $44.76 per share, with a total value of $268,560.00. Following the completion of the purchase, the director now directly owns 34,146 shares in the company, valued at $1,528,374.96. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.
Hedge Funds Weigh In On V.F.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Wealth Alliance LLC bought a new position in shares of V.F. in the second quarter valued at $352,000. Coston McIsaac & Partners bought a new position in V.F. during the second quarter worth $2,625,000. Federated Hermes Inc. boosted its position in V.F. by 800.7% during the second quarter. Federated Hermes Inc. now owns 394,277 shares of the textile maker’s stock worth $17,415,000 after purchasing an additional 350,503 shares during the period. Private Trust Co. NA bought a new position in V.F. during the second quarter worth $28,000. Finally, B. Riley Wealth Management Inc. bought a new position in V.F. during the second quarter worth $345,000. 87.01% of the stock is owned by institutional investors.
V.F. Stock Performance
The company has a debt-to-equity ratio of 1.33, a current ratio of 1.33 and a quick ratio of 0.66. The stock’s 50-day simple moving average is $41.39 and its 200 day simple moving average is $46.98. The stock has a market capitalization of $11.81 billion, a P/E ratio of 12.09, a PEG ratio of 1.64 and a beta of 1.43.
V.F. (NYSE:VFC – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The textile maker reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). V.F. had a return on equity of 33.20% and a net margin of 8.45%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.22 billion. Research analysts expect that V.F. Co. will post 2.7 EPS for the current fiscal year.
V.F. Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Monday, September 12th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date was Friday, September 9th. V.F.’s dividend payout ratio is currently 77.82%.
About V.F.
V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.