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

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

Other research analysts have also issued research reports about the stock. Argus upgraded shares of VF to a “hold” rating in a research note on Wednesday, August 28th. Robert W. Baird boosted their price target on VF from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Evercore ISI increased their price objective on VF from $14.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on VF in a report on Friday, September 27th. They issued a “hold” rating and a $20.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on VF in a research report on Friday, October 11th. They set a “neutral” rating and a $20.00 target price for the company. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.24.

VF Price Performance

Shares of NYSE:VFC opened at $19.54 on Monday. The business has a fifty day simple moving average of $18.42 and a 200 day simple moving average of $15.35. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. VF has a 1 year low of $11.00 and a 1 year high of $21.40. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of -6.47, a P/E/G ratio of 2.17 and a beta of 1.53.

VF (NYSE:VFC) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.04. VF had a positive return on equity of 11.75% and a negative net margin of 11.39%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned ($0.15) EPS. The firm’s revenue was down 8.9% on a year-over-year basis. As a group, sell-side analysts predict that VF will post 0.73 earnings per share 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 given 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 dividend yield of 1.84%. VF’s dividend payout ratio is currently -11.92%.

Insider Activity

In other VF news, Director Richard Carucci purchased 15,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price 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 $3,843,972.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On VF

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC boosted its stake in VF by 11.5% in the 4th quarter. V Square Quantitative Management LLC now owns 13,242 shares of the textile maker’s stock valued at $249,000 after buying an additional 1,367 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of VF by 36.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 105,322 shares of the textile maker’s stock valued at $1,981,000 after purchasing an additional 28,027 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of VF by 45.6% in the 4th quarter. Wellington Management Group LLP now owns 1,620,524 shares of the textile maker’s stock worth $30,466,000 after purchasing an additional 507,332 shares during the last quarter. Quadrature Capital Ltd bought a new position in VF during the 4th quarter valued at about $849,000. Finally, Moody National Bank Trust Division boosted its position in VF by 95.7% in the first quarter. Moody National Bank Trust Division now owns 97,608 shares of the textile maker’s stock valued at $1,497,000 after buying an additional 47,735 shares in the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.

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.