VF (NYSE:VFC) shares fall 6.6% after analysts downgrade


VF Co. (NYSE: VFC – Get a rating) was down 6.6% in Friday’s midday session after BTIG Research lowered its price target on the stock from $67.00 to $60.00. The company traded as low as $45.15 and last traded at $45.36. Approximately 117,250 shares were traded during trading, down 97% from the average daily volume of 3,394,332 shares. The stock had previously closed at $48.57.

A number of other stock analysts have also published reports on the company. Robert W. Baird lowered his price target on VF from $80.00 to $60.00 and set an “outperform” rating on the stock in a Friday, May 20 report. Credit Suisse Group cut its price target on VF shares from $81.00 to $61.00 and set an “outperform” rating for the company in a Friday, May 20 research report. Cowen cut his price target on VF shares to $59.00 in a research report on Monday. Cowen reduced his price target on VF shares from $72.00 to $61.00 in a Wednesday, May 18 research report. Finally, Wedbush cut its price target on VF shares from $61.00 to $50.00 and set a “neutral” rating for the company in a Friday, May 20 research report. Two investment analysts gave the stock a sell rating, eleven gave the company a hold rating and eight gave the company a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.17.

Insider activity

In other news, CFO Matthew H. Puckett sold 677 shares of the company in a trade on Friday, May 27. The shares were sold at an average price of $49.87, for a total transaction of $33,761.99. Following the completion of the sale, the CFO now directly owns 44,691 shares of the company, valued at approximately $2,228,740.17. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Separately, Chief Financial Officer Matthew H. Puckett sold 677 VF shares in a trade on Friday, May 27. The shares were sold at an average price of $49.87, for a total transaction of $33,761.99. Following the transaction, the CFO now owns 44,691 shares of the company, valued at approximately $2,228,740.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Also, director Richard Carucci bought 10,000 VF shares in a trade that took place on Tuesday, June 14. The shares were acquired at an average price of $45.39 per share, for a total transaction of $453,900.00. Following the acquisition, the administrator now directly owns 107,493 shares of the company, valued at approximately $4,879,107.27. Disclosure of this purchase can be found here. Insiders bought 16,000 shares of the company valued at $740,070 in the past ninety days. Insiders of the company own 0.90% of the shares of the company.

Hedge funds weigh on VF

Institutional investors have recently increased or reduced their stake in the company. Landmark Wealth Management LLC acquired a new position in VF in Q1 worth $40,000. Missouri Trust & Investment Co acquired a new position in VF in Q4 worth $30,000. Tompkins Financial Corp increased its stake in VF by 981.4% in the first quarter. Tompkins Financial Corp now owns 465 shares of the textile maker worth $26,000 after buying 422 more shares last quarter. Cornerstone Advisory LLC acquired a new stake in shares of VF in Q4 valued at approximately $40,000. Finally, LS Investment Advisors LLC acquired a new equity stake in VF in Q2 valued at approximately $25,000. Institutional investors and hedge funds own 88.25% of the company’s shares.

VF Trading down 8.0%

The company has a market cap of $17.37 billion, a price-to-earnings ratio of 13.00, a growth price-to-earnings ratio of 1.48, and a beta of 1.41. The company’s 50-day moving average price is $46.92 and its 200-day moving average price is $54.00. The company has a debt ratio of 1.30, a quick ratio of 0.96 and a current ratio of 1.38.

VF (NYSE: VFC- Get a rating) last released its results on Thursday, May 19. The textile maker reported earnings per share (EPS) of $0.45 for the quarter, matching analyst consensus estimates of $0.45. The company posted revenue of $2.82 billion for the quarter, versus analyst estimates of $2.83 billion. VF had a net margin of 11.71% and a return on equity of 35.47%. The company’s revenue for the quarter increased 9.4% year over year. In the same quarter a year earlier, the company posted EPS of $0.27. Equity analysts expect VF Co. to post EPS of 3.31 for the current year.

VF announces dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 21. Shareholders of record on Friday, June 10 received a dividend of $0.50. The ex-dividend date was Thursday, June 9. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 4.47%. VF’s dividend payout ratio (DPR) is currently 56.66%.

VF Company Profile

(Get a rating)

VF Corporation, together with its subsidiaries, is engaged in the design, sourcing, marketing and distribution of branded apparel, footwear and related products for men, women and children in the Americas, Europe and in Asia-Pacific. It operates through three segments: Outdoor, Active and Work.

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