V.F. (NYSE:VFC) Raised to Buy at Citigroup

Citigroup upgraded shares of V.F. (NYSE:VFC) from a neutral rating to a buy rating in a report published on Thursday morning, MarketBeat reports. They currently have $20.00 target price on the textile maker’s stock, up from their prior target price of $11.00.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of V.F. from $14.00 to $11.00 and set an equal weight rating for the company in a report on Thursday, May 23rd. UBS Group lowered their price target on V.F. from $14.00 to $12.00 and set a neutral rating for the company in a research report on Tuesday, May 28th. BNP Paribas reaffirmed a neutral rating and set a $14.00 price objective (down from $18.00) on shares of V.F. in a report on Friday, April 12th. BMO Capital Markets lowered their target price on shares of V.F. from $18.00 to $13.00 and set a market perform rating for the company in a report on Thursday, May 23rd. Finally, TD Cowen cut their price target on shares of V.F. from $14.00 to $9.00 and set a hold rating on the stock in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $14.19.

V.F. Price Performance

Shares of VFC opened at $16.38 on Thursday. V.F. has a one year low of $11.00 and a one year high of $21.17. The stock has a 50-day moving average of $13.40 and a 200-day moving average of $14.48. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.71 and a current ratio of 1.22.

V.F. (NYSE:VFC) last announced its quarterly earnings data on Wednesday, May 22nd. The textile maker reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.34). V.F. had a negative net margin of 9.27% and a positive return on equity of 13.14%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business posted $0.17 EPS. The company’s revenue was down 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that V.F. will post 0.85 earnings per share for the current fiscal year.

V.F. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 10th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.36 annualized dividend and a dividend yield of 2.20%. V.F.’s payout ratio is presently -14.40%.

Insider Transactions at V.F.

In other news, Director Richard Carucci acquired 25,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $13.78 per share, for a total transaction of $344,500.00. Following the purchase, the director now owns 215,130 shares of the company’s stock, valued at approximately $2,964,491.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other V.F. news, Director Richard Carucci acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of $13.78 per share, with a total value of $344,500.00. Following the acquisition, the director now owns 215,130 shares in the company, valued at $2,964,491.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bracken Darrell bought 75,200 shares of the stock in a transaction on Monday, June 10th. The shares were acquired at an average cost of $13.26 per share, for a total transaction of $997,152.00. Following the acquisition, the insider now directly owns 219,972 shares in the company, valued at $2,916,828.72. The disclosure for this purchase can be found here. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC grew its stake in V.F. by 2,835.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 1,321 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 1,276 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in V.F. in the 4th quarter valued at $25,000. Mather Group LLC. purchased a new position in shares of V.F. during the 1st quarter valued at $27,000. Future Financial Wealth Managment LLC bought a new position in shares of V.F. in the first quarter worth $31,000. Finally, Allworth Financial LP raised its position in shares of V.F. by 111.5% in the fourth quarter. Allworth Financial LP now owns 1,817 shares of the textile maker’s stock worth $34,000 after buying an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

V.F. Company Profile

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.