VF (NYSE:VFC) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen lowered shares of VF (NYSE:VFC - Free Report) from a buy rating to a hold rating in a research note published on Saturday.

A number of other brokerages also recently weighed in on VFC. Jefferies Financial Group upped their target price on VF from $21.00 to $24.00 and gave the company a "hold" rating in a report on Tuesday, January 28th. BNP Paribas reiterated a "neutral" rating on shares of VF in a research report on Thursday, May 22nd. Citigroup lowered VF from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $30.00 to $12.00 in a research report on Monday, April 7th. The Goldman Sachs Group reduced their price target on VF from $25.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Piper Sandler lowered their price objective on shares of VF from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, VF has a consensus rating of "Hold" and an average price target of $16.21.

VF Trading Down 2.7%

VFC traded down $0.36 during trading hours on Friday, reaching $13.19. The company's stock had a trading volume of 4,206,773 shares, compared to its average volume of 7,882,134. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.56 and a quick ratio of 1.00. The business's 50-day moving average is $12.90 and its 200-day moving average is $18.92. VF has a fifty-two week low of $9.41 and a fifty-two week high of $29.02. The stock has a market cap of $5.14 billion, a PE ratio of -11.06, a P/E/G ratio of 6.77 and a beta of 1.68.

VF (NYSE:VFC - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The textile maker reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. VF had a negative net margin of 4.63% and a positive return on equity of 14.86%. The company's quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) earnings per share. As a group, equities research analysts predict that VF will post 0.73 earnings per share for the current fiscal year.

VF Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.36 dividend on an annualized basis and a yield of 2.73%. VF's dividend payout ratio is currently -72.00%.

Insider Activity at VF

In related news, insider Bracken Darrell purchased 85,840 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $11.73 per share, with a total value of $1,006,903.20. Following the completion of the acquisition, the insider now directly owns 295,406 shares in the company, valued at $3,465,112.38. This trade represents a 40.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Abhishek Dalmia acquired 50,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $11.78 per share, with a total value of $589,000.00. Following the transaction, the executive vice president now owns 380,614 shares of the company's stock, valued at approximately $4,483,632.92. The trade was a 15.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 185,840 shares of company stock valued at $2,198,403. Insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On VF

A number of institutional investors have recently made changes to their positions in VFC. Russell Investments Group Ltd. grew its stake in shares of VF by 11.1% in the 1st quarter. Russell Investments Group Ltd. now owns 277,442 shares of the textile maker's stock worth $4,306,000 after purchasing an additional 27,727 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of VF in the first quarter valued at $749,000. Amalgamated Bank lifted its position in VF by 46.2% during the 1st quarter. Amalgamated Bank now owns 152,410 shares of the textile maker's stock valued at $2,365,000 after purchasing an additional 48,151 shares during the period. SG Americas Securities LLC bought a new position in VF during the first quarter worth about $350,000. Finally, Fiduciary Alliance LLC lifted its position in VF by 16.4% in the 1st quarter. Fiduciary Alliance LLC now owns 298,596 shares of the textile maker's stock valued at $4,634,000 after acquiring an additional 42,065 shares in the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.

VF Company Profile

VF Corp. engages in the business of producing and marketing apparel, footwear, and accessories. It operates through the following segments: Outdoor, Active, Work, and Other. The Outdoor segment includes authentic outdoor-based lifestyle brands such as performance-based and outdoor apparel, footwear, and equipment.