V.F. (NYSE:VFC) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded V.F. from “underweight” to “neutral” and set an $18 price target, implying approximately 24% upside from the reported $14.51 share price.
• Analyst sentiment remains broadly cautious: V.F. has a consensus “Hold” rating and a consensus price target of $17.31, with 15 analysts rating the stock a hold.
• V.F.’s latest quarter showed mixed results, with revenue of $1.67 billion exceeding estimates but adjusted EPS of negative $0.27 missing expectations; revenue declined 5.2% year over year.

V.F. (NYSE:VFC - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $18.00 price target on the textile maker's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 24.05% from the company's current price.

VFC has been the topic of several other reports. Deutsche Bank Aktiengesellschaft started coverage on V.F. in a report on Thursday, September 17th. They issued a "hold" rating and a $14.00 target price on the stock. The Goldman Sachs Group cut their price objective on V.F. from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Evercore set a $16.00 price objective on V.F. in a research note on Thursday, July 30th. Barclays decreased their target price on V.F. from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Finally, Piper Sandler restated a "neutral" rating and issued a $16.00 target price on shares of V.F. in a research note on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, V.F. presently has a consensus rating of "Hold" and a consensus target price of $17.31.

V.F. Stock Up 0.9%

Shares of NYSE VFC opened at $14.51 on Friday. The stock has a market cap of $5.70 billion, a PE ratio of 21.03, a PEG ratio of 0.76 and a beta of 1.56. The business has a fifty day moving average of $13.95 and a two-hundred day moving average of $16.22. V.F. has a 52-week low of $12.45 and a 52-week high of $22.27. 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. (NYSE:VFC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). V.F. had a return on equity of 18.91% and a net margin of 2.88%.The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the company posted ($0.24) EPS. The firm's revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts expect that V.F. will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at V.F.

In other news, Director Richard Carucci bought 20,000 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $14.73 per share, for a total transaction of $294,600.00. Following the completion of the transaction, the director directly owned 356,215 shares in the company, valued at $5,247,046.95. The trade was a 5.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bracken Darrell purchased 32,894 shares of the business's stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $14.98 per share, for a total transaction of $492,752.12. Following the purchase, the insider directly owned 1,402,109 shares of the company's stock, valued at $21,003,592.82. This trade represents a 2.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Varenne Capital Partners bought a new stake in shares of V.F. during the 2nd quarter valued at $13,671,000. Corient Private Wealth LP boosted its position in shares of V.F. by 343.7% in the 2nd quarter. Corient Private Wealth LP now owns 212,198 shares of the textile maker's stock worth $3,539,000 after purchasing an additional 164,369 shares during the last quarter. Madison Asset Management LLC bought a new position in shares of V.F. in the 2nd quarter worth $3,913,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of V.F. during the second quarter worth $2,457,000. Finally, Hillsdale Investment Management Inc. bought a new stake in V.F. in the first quarter valued at about $3,209,000. Institutional investors own 86.84% of the company's stock.

V.F. Company Profile

V.F. Corporation NYSE: VFC is a global apparel, footwear and accessories company. Its portfolio includes well-known outdoor, active and workwear brands such as The North Face, Vans, Timberland and Dickies, which offer products ranging from outdoor clothing and hiking footwear to casual apparel, skate shoes and workwear.

The company sells its products through wholesale customers, brand-operated stores, e-commerce platforms and other digital channels. V.F. serves consumers in markets worldwide, with operations and distribution spanning North America, Europe, Asia-Pacific and other international regions.

Founded in 1899 as a manufacturer of gloves and mittens, the company later expanded into apparel and became known as Vanity Fair Mills before adopting the V.F.

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