VF (NYSE:VFC) Lowered to “Underweight” at Wells Fargo & Company

VF (NYSE:VFC) was downgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Monday, Briefing.com reports. They currently have a $15.00 price objective on the textile maker’s stock, down from their prior price objective of $16.00. Wells Fargo & Company‘s price target would indicate a potential downside of 26.22% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price on shares of VF in a research note on Monday, August 5th. TD Cowen raised their price target on shares of VF from $9.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Argus upgraded VF to a “hold” rating in a research report on Wednesday, August 28th. Telsey Advisory Group upped their price target on VF from $15.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI raised their price objective on VF from $14.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.88.

VF Trading Up 0.4 %

Shares of VFC stock opened at $20.33 on Monday. VF has a fifty-two week low of $11.00 and a fifty-two week high of $21.40. The firm has a market capitalization of $7.91 billion, a P/E ratio of -6.73, a PEG ratio of 2.27 and a beta of 1.53. The stock’s fifty day moving average is $18.26 and its two-hundred day moving average is $15.26. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.51 and a current ratio of 0.99.

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

Insider Transactions at VF

In other VF news, Director Richard Carucci purchased 15,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $16.70 per share, with a total value of $250,500.00. Following the acquisition, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VFC. V Square Quantitative Management LLC boosted its stake in VF by 8.9% in the second quarter. V Square Quantitative Management LLC now owns 10,803 shares of the textile maker’s stock valued at $146,000 after acquiring an additional 879 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in VF by 50.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,681 shares of the textile maker’s stock worth $41,000 after buying an additional 895 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in VF by 0.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 106,281 shares of the textile maker’s stock worth $1,630,000 after buying an additional 959 shares during the period. Partnership Wealth Management LLC lifted its stake in VF by 0.7% in the first quarter. Partnership Wealth Management LLC now owns 158,634 shares of the textile maker’s stock valued at $2,433,000 after buying an additional 1,170 shares during the last quarter. Finally, First Hawaiian Bank boosted its holdings in shares of VF by 4.1% in the first quarter. First Hawaiian Bank now owns 38,060 shares of the textile maker’s stock valued at $584,000 after acquiring an additional 1,500 shares during the period. 86.84% of the stock is owned by hedge funds and other institutional investors.

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.