VF (NYSE:VFC) Raised to “Overweight” at Barclays

Barclays upgraded shares of VF (NYSE:VFC) from an equal weight rating to an overweight rating in a research note released on Wednesday, MarketBeat.com reports. They currently have $22.00 price target on the textile maker’s stock, up from their previous price target of $19.00.

Other analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price objective on VF from $15.00 to $16.00 and gave the company an equal weight rating in a research report on Friday, September 6th. Evercore ISI upped their price target on VF from $14.00 to $16.00 and gave the stock an in-line rating in a research note on Wednesday, August 7th. Bank of America decreased their price objective on VF from $13.00 to $11.00 and set an underperform rating for the company in a report on Thursday, May 23rd. UBS Group upped their target price on shares of VF from $12.00 to $17.00 and gave the stock a neutral rating in a research report on Friday, August 16th. Finally, BMO Capital Markets lifted their price target on shares of VF from $13.00 to $14.00 and gave the company a market perform rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, VF currently has an average rating of Hold and an average target price of $16.19.

VF Price Performance

Shares of VFC stock opened at $18.67 on Wednesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.51 and a current ratio of 0.99. The firm has a market cap of $7.26 billion, a P/E ratio of -7.47, a P/E/G ratio of 2.05 and a beta of 1.53. The business’s 50 day moving average price is $17.15 and its 200-day moving average price is $14.78. VF has a fifty-two week low of $11.00 and a fifty-two week high of $20.69.

VF (NYSE:VFC) last issued 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. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that VF will post 0.73 earnings per share for the current year.

VF Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.36 annualized dividend and a yield of 1.93%. VF’s dividend payout ratio is -14.40%.

Insider Transactions at VF

In other VF news, Director Richard Carucci purchased 15,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $16.70 per share, with a total value of $250,500.00. Following the completion of the acquisition, the director now directly owns 230,178 shares in the company, valued at approximately $3,843,972.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On VF

Several hedge funds and other institutional investors have recently bought and sold shares of VFC. Dimensional Fund Advisors LP raised its holdings in shares of VF by 22.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,241,702 shares of the textile maker’s stock valued at $60,951,000 after purchasing an additional 590,434 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in VF by 24.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,920 shares of the textile maker’s stock valued at $469,000 after buying an additional 4,865 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of VF by 11.6% during the 4th quarter. Panagora Asset Management Inc. now owns 30,134 shares of the textile maker’s stock worth $567,000 after acquiring an additional 3,140 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of VF by 785.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 62,420 shares of the textile maker’s stock valued at $1,173,000 after acquiring an additional 55,371 shares during the period. Finally, Norges Bank purchased a new stake in shares of VF in the 4th quarter worth $76,059,000. Institutional investors own 86.84% of the company’s stock.

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.