VF (NYSE:VFC) PT Lowered to $16.00 at JPMorgan Chase & Co.

VF (NYSE:VFC) had its target price cut by analysts at JPMorgan Chase & Co. from $17.00 to $16.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 13.04% from the stock’s current price.

Several other brokerages have also recently weighed in on VFC. BMO Capital Markets lifted their price objective on VF from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Evercore ISI increased their price objective on shares of VF from $14.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on shares of VF from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. StockNews.com raised VF from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Argus raised VF to a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.81.

VF Stock Up 1.1 %

VFC opened at $18.40 on Monday. 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 stock has a fifty day moving average of $16.82 and a 200-day moving average of $14.70. VF has a fifty-two week low of $11.00 and a fifty-two week high of $20.69. The company has a market capitalization of $7.16 billion, a P/E ratio of -7.36, a P/E/G ratio of 1.94 and a beta of 1.53.

VF (NYSE:VFC) last posted 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities analysts expect that VF will post 0.73 EPS for the current year.

Insider Activity at VF

In related news, Director Richard Carucci bought 15,000 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 230,178 shares of the company’s stock, valued at $3,843,972.60. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VFC. M&G Plc raised its stake in VF by 10.0% during the second quarter. M&G Plc now owns 14,729,396 shares of the textile maker’s stock worth $206,212,000 after buying an additional 1,344,849 shares during the last quarter. Pacer Advisors Inc. lifted its stake 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 valued at $159,609,000 after purchasing an additional 2,589,852 shares during the period. Wells Fargo & Company MN boosted its position in shares of VF by 12.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,281,957 shares of the textile maker’s stock valued at $80,501,000 after purchasing an additional 473,952 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in VF by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker’s stock worth $55,694,000 after purchasing an additional 113,128 shares during the period. Finally, Norges Bank acquired a new position in VF in the fourth quarter valued at approximately $76,059,000. 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.