V.F. (NYSE:VFC) Rating Lowered to Hold at Robert W. Baird

Key Points

• Robert W. Baird downgraded V.F. from “strong buy” to “hold.” The broader analyst consensus is also “Hold,” with a consensus price target of $17.62.
• V.F. reported quarterly adjusted earnings of a $0.27-per-share loss, missing estimates by $0.05, while revenue fell 5.2% year over year to $1.67 billion.
• The stock opened at $13.10, near its 52-week low of $12.45. Insiders recently purchased shares, while institutional investors own 86.84% of the company.

V.F. (NYSE:VFC - Get Free Report) was downgraded by analysts at Robert W. Baird from a "strong-buy" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

Several other equities research analysts have also recently weighed in on VFC. UBS Group decreased their price target on V.F. from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Zacks Research lowered V.F. from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Truist Financial reduced their target price on V.F. from $15.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, July 30th. Needham & Company LLC decreased their target price on shares of V.F. from $25.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. Finally, Telsey Advisory Group lowered their price target on shares of V.F. from $20.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, V.F. presently has a consensus rating of "Hold" and a consensus target price of $17.62.

V.F. Price Performance

Shares of NYSE:VFC opened at $13.10 on Monday. The firm has a market cap of $5.15 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 0.94 and a beta of 1.57. The firm's fifty day moving average is $15.00 and its 200-day moving average is $16.69. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.43. V.F. has a 52 week low of $12.45 and a 52 week high of $22.27.

V.F. (NYSE:VFC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. V.F. had a net margin of 2.88% and a return on equity of 18.91%. The business's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.24) earnings per share. Sell-side analysts predict that V.F. will post 1.08 earnings per share for the current year.

Insider Activity

In related news, insider Bracken Darrell acquired 32,894 shares of the company's stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $14.98 per share, for a total transaction of $492,752.12. Following the completion of the acquisition, the insider owned 1,402,109 shares of the company's stock, valued at approximately $21,003,592.82. This trade represents a 2.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Carucci acquired 20,000 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $14.73 per share, for a total transaction of $294,600.00. Following the transaction, the director directly owned 356,215 shares in the company, valued at approximately $5,247,046.95. This represents a 5.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VFC. California State Teachers Retirement System increased its holdings in shares of V.F. by 1,573.0% during the second quarter. California State Teachers Retirement System now owns 6,423,735 shares of the textile maker's stock valued at $107,148,000 after acquiring an additional 6,039,772 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of V.F. in the 2nd quarter worth $42,038,000. Squarepoint Ops LLC grew its position in V.F. by 298.1% in the 2nd quarter. Squarepoint Ops LLC now owns 1,782,904 shares of the textile maker's stock valued at $29,739,000 after purchasing an additional 1,335,057 shares during the period. Varenne Capital Partners bought a new stake in V.F. during the 2nd quarter valued at $13,671,000. Finally, Madison Asset Management LLC bought a new stake in V.F. during the 2nd quarter valued at $3,913,000. Institutional investors own 86.84% of the company's stock.

About V.F.

V.F. Corporation, also known as VF Corporation, is a global apparel, footwear and accessories company. Its portfolio includes recognized outdoor, active, workwear and lifestyle brands such as The North Face, Vans, Timberland, Dickies, JanSport and Eastpak.

The company develops, markets and distributes products including jackets, outdoor and performance apparel, footwear, backpacks, luggage and workwear. Its brands serve consumers through wholesale partners, company-operated and franchised stores, and e-commerce platforms.

Founded in 1899 as the Reading Glove and Mitten Company, the business later adopted the name Vanity Fair Mills and became VF Corporation.

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