VF (NYSE:VFC) Cut to Hold at Wall Street Zen

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

Other analysts also recently issued reports about the stock. Telsey Advisory Group set a $14.00 price target on shares of VF in a report on Thursday. Citigroup downgraded shares of VF from a “buy” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $12.00 in a report on Monday, April 7th. Piper Sandler reduced their price target on shares of VF from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Truist Financial reduced their price target on shares of VF from $24.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of VF from $25.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, VF has an average rating of “Hold” and a consensus target price of $16.21.

VF Price Performance

NYSE VFC opened at $11.98 on Friday. 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 company has a fifty day simple moving average of $12.96 and a 200 day simple moving average of $18.96. The company has a market cap of $4.67 billion, a P/E ratio of -10.07, a P/E/G ratio of 6.77 and a beta of 1.68. VF has a 1 year low of $9.41 and a 1 year high of $29.02.

VF (NYSE:VFC) last posted its quarterly earnings data 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. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. VF had a negative net margin of 4.63% and a positive return on equity of 14.86%. VF’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) EPS. On average, sell-side analysts predict that VF will post 0.73 EPS for the current year.

VF Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Tuesday, June 10th. VF’s dividend payout ratio (DPR) is currently -72.00%.

Institutional Investors Weigh In On VF

A number of hedge funds have recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its position 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 in the last quarter. Rhumbline Advisers grew its holdings in 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 acquiring an additional 92,174 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 376,615 shares during the last quarter. Fiduciary Alliance LLC grew its holdings in VF by 16.4% during the 1st quarter. Fiduciary Alliance LLC now owns 298,596 shares of the textile maker’s stock worth $4,634,000 after acquiring an additional 42,065 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in VF by 11.1% during the 1st quarter. Russell Investments Group Ltd. now owns 277,442 shares of the textile maker’s stock worth $4,306,000 after acquiring an additional 27,727 shares during the last quarter. Institutional investors and hedge funds own 86.84% of the company’s stock.

About VF

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.