VF (NYSE:VFC) Shares Down 5.2% - Here's What Happened

VF Corporation (NYSE:VFC - Get Free Report) shares fell 5.2% on Friday . The stock traded as low as $12.07 and last traded at $11.98. 3,391,441 shares were traded during trading, a decline of 56% from the average session volume of 7,738,357 shares. The stock had previously closed at $12.63.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VFC shares. Wall Street Zen cut shares of VF from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Needham & Company LLC dropped their target price on shares of VF from $28.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Barclays set a $16.00 price objective on VF and gave the company an "overweight" rating in a report on Thursday, May 22nd. Telsey Advisory Group set a $14.00 price objective on VF in a report on Thursday, May 22nd. Finally, Truist Financial cut their price objective on VF from $24.00 to $13.00 and set a "hold" rating on the stock in a report on Thursday, May 22nd. Sixteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $16.21.

VF Price Performance

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 company has a market capitalization of $4.52 billion, a PE ratio of -9.74, a PEG ratio of 6.77 and a beta of 1.69. The firm has a 50-day moving average of $12.37 and a 200 day moving average of $18.28.

VF (NYSE:VFC - Get Free Report) last announced its earnings results on Wednesday, May 21st. The textile maker reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. VF had a positive return on equity of 14.86% and a negative net margin of 4.63%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the firm posted ($0.32) earnings per share. The business's revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts anticipate that VF Corporation 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. Investors of record on Tuesday, June 10th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, June 10th. VF's dividend payout ratio (DPR) is presently -72.00%.

Insider Activity at VF

In other news, Director Richard Carucci acquired 50,000 shares of VF stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $12.05 per share, with a total value of $602,500.00. Following the purchase, the director now directly owns 280,282 shares in the company, valued at $3,377,398.10. The trade was a 21.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bracken Darrell acquired 85,840 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $11.73 per share, with a total value of $1,006,903.20. Following the acquisition, the insider now 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 disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 185,840 shares of company stock valued at $2,198,403. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On VF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of VF by 1,355.2% during the 1st quarter. GAMMA Investing LLC now owns 404,405 shares of the textile maker's stock worth $6,276,000 after purchasing an additional 376,615 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of VF by 5.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,874,781 shares of the textile maker's stock worth $83,153,000 after purchasing an additional 211,440 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of VF by 11.0% during the 1st quarter. Rhumbline Advisers now owns 928,753 shares of the textile maker's stock worth $14,414,000 after purchasing an additional 92,174 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of VF during the 1st quarter worth $749,000. Finally, Amalgamated Bank lifted its stake in shares of VF by 46.2% during the 1st quarter. Amalgamated Bank now owns 152,410 shares of the textile maker's stock worth $2,365,000 after purchasing an additional 48,151 shares during the last quarter. Institutional investors own 86.84% of the company's stock.

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.