VF (NYSE:VFC) Given New $12.00 Price Target at Wells Fargo & Company

VF (NYSE:VFC) had its target price lowered by Wells Fargo & Company from $13.00 to $12.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the textile maker’s stock.

VFC has been the subject of a number of other research reports. Robert W. Baird lifted their price target on VF from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. 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 research report on Wednesday. Citigroup cut shares of VF from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $12.00 in a research report on Monday, April 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of VF in a research report on Wednesday. Finally, Piper Sandler reduced their target price on VF from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.10.

VF Stock Performance

VF stock opened at $12.18 on Thursday. VF has a 1-year low of $9.41 and a 1-year high of $29.02. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $4.74 billion, a PE ratio of -10.23, a price-to-earnings-growth ratio of 6.77 and a beta of 1.68. The firm’s 50 day simple moving average is $13.12 and its 200 day simple moving average is $19.11.

VF (NYSE:VFC) last released its quarterly earnings results on Wednesday, May 21st. The textile maker reported ($0.13) EPS for the quarter, beating 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 analyst estimates of $2.17 billion. During the same period in the previous year, the business earned ($0.32) EPS. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, analysts expect that VF will post 0.73 earnings per share for the current fiscal year.

VF Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, June 10th. VF’s dividend payout ratio is currently -30.25%.

Institutional Trading of VF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CKW Financial Group lifted its position in VF by 29.4% during the 4th quarter. CKW Financial Group now owns 2,200 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 500 shares during the period. SG Americas Securities LLC bought a new position in shares of VF during the first quarter valued at approximately $350,000. Entropy Technologies LP purchased a new position in shares of VF during the first quarter valued at approximately $749,000. Amalgamated Bank boosted its position in shares of VF by 46.2% in 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its position 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 in the last quarter. 86.84% of the stock is owned by hedge funds and other 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.