VF (NYSE:VFC) Shares Gap Down - Here's What Happened

VF Corporation (NYSE:VFC - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $12.85, but opened at $12.49. VF shares last traded at $12.49, with a volume of 607,431 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Needham & Company LLC dropped their price target on shares of VF from $28.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. BNP Paribas reaffirmed a "neutral" rating on shares of VF in a report on Thursday, May 22nd. BMO Capital Markets set a $15.00 price objective on VF and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group lowered their target price on shares of VF from $25.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wall Street Zen downgraded VF from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Sixteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $16.21.

VF Price Performance

The firm has a market cap of $4.86 billion, a P/E ratio of -10.49, a PEG ratio of 6.77 and a beta of 1.68. 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 stock's 50-day simple moving average is $12.59 and its two-hundred day simple moving average is $18.70.

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, topping analysts' consensus estimates of ($0.14) by $0.01. VF had a negative net margin of 4.63% and a positive return on equity of 14.86%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the company earned ($0.32) EPS. The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts forecast that VF Corporation will post 0.73 earnings per share for the current fiscal year.

VF Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 10th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.36 annualized dividend and a dividend yield of 2.88%. VF's payout ratio is -72.00%.

Insider Activity at VF

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

Hedge Funds Weigh In On VF

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in VF in the first quarter worth approximately $350,000. Entropy Technologies LP purchased a new stake in shares of VF during the 1st quarter worth $749,000. Amalgamated Bank boosted its position in VF by 46.2% during the first 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 in the last quarter. Russell Investments Group Ltd. lifted its position in shares of VF by 11.1% during the first quarter. Russell Investments Group Ltd. now owns 277,442 shares of the textile maker's stock valued at $4,306,000 after buying an additional 27,727 shares during the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in shares of 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 buying an additional 42,065 shares in the last quarter. 86.84% of the stock is currently owned by institutional investors.

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.