V.F. (NYSE:VFC) Downgraded to Hold Rating by Robert W. Baird

Robert W. Baird downgraded shares of V.F. (NYSE:VFC) from a strong-buy rating to a hold rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $15.00 price objective on the textile maker’s stock.

VFC has been the subject of several other reports. BTIG Research reiterated a “buy” rating on shares of V.F. in a research report on Friday, July 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of V.F. in a research note on Tuesday, September 1st. Zacks Research cut V.F. from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Williams Trading set a $19.00 price objective on V.F. in a research note on Sunday, May 17th. Finally, Wells Fargo & Company reduced their target price on shares of V.F. from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.62.

V.F. Price Performance

V.F. stock opened at $13.10 on Monday. V.F. has a 52-week low of $12.45 and a 52-week high of $22.27. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 0.94 and a beta of 1.57. The firm’s fifty day moving average is $15.00 and its 200 day moving average is $16.69. The company has a quick ratio of 0.78, a current ratio of 1.43 and a debt-to-equity ratio of 1.70.

V.F. (NYSE:VFC) last issued its quarterly earnings data on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. V.F. had a net margin of 2.88% and a return on equity of 18.91%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.24) earnings per share. Sell-side analysts forecast that V.F. will post 1.08 EPS for the current fiscal year.

V.F. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 10th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, September 10th. V.F.’s dividend payout ratio is 52.17%.

Insider Activity at V.F.

In other V.F. news, Director Richard Carucci bought 20,000 shares of V.F. stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $14.73 per share, with a total value of $294,600.00. Following the completion of the acquisition, the director directly owned 356,215 shares in the company, valued at approximately $5,247,046.95. This trade represents a 5.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bracken Darrell purchased 32,894 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $14.98 per share, for a total transaction of $492,752.12. Following the completion of the acquisition, the insider owned 1,402,109 shares of the company’s stock, valued at $21,003,592.82. The trade was a 2.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.54% of the company’s stock.

Hedge Funds Weigh In On V.F.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Varenne Capital Partners acquired a new position in shares of V.F. during the 2nd quarter worth about $13,671,000. Madison Asset Management LLC acquired a new position in shares of V.F. during the second quarter valued at approximately $3,913,000. Hillsdale Investment Management Inc. purchased a new position in shares of V.F. in the first quarter valued at approximately $3,209,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of V.F. in the second quarter worth approximately $2,457,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of V.F. during the second quarter worth approximately $42,038,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

V.F. Company Profile

V.F. Corporation, also known as VF Corporation, is a global apparel, footwear and accessories company. Its portfolio includes recognized outdoor, active, workwear and lifestyle brands such as The North Face, Vans, Timberland, Dickies, JanSport and Eastpak.

The company develops, markets and distributes products including jackets, outdoor and performance apparel, footwear, backpacks, luggage and workwear. Its brands serve consumers through wholesale partners, company-operated and franchised stores, and e-commerce platforms.

Founded in 1899 as the Reading Glove and Mitten Company, the business later adopted the name Vanity Fair Mills and became VF Corporation.