VF (NYSE:VFC) Shares Gap Down – What’s Next?

VF Corporation (NYSE:VFC) shares gapped down before the market opened on Monday . The stock had previously closed at $19.60, but opened at $17.85. VF shares last traded at $18.29, with a volume of 2,090,386 shares.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of VF in a report on Friday, September 27th. They set a “hold” rating and a $20.00 price target on the stock. Telsey Advisory Group lifted their price target on VF from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. UBS Group upped their price objective on VF from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Wells Fargo & Company downgraded shares of VF from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Monday, October 14th. Finally, Stifel Nicolaus raised their price objective on shares of VF from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, VF currently has an average rating of “Hold” and an average target price of $17.24.

VF Stock Performance

The business has a 50 day moving average of $18.50 and a 200-day moving average of $15.42. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.51 and a current ratio of 0.99. The company has a market capitalization of $7.11 billion, a P/E ratio of -6.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.53.

VF (NYSE:VFC) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.04. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted ($0.15) earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, sell-side analysts predict that VF Corporation will post 0.73 EPS for the current fiscal year.

VF Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 10th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Tuesday, September 10th. VF’s payout ratio is currently -11.92%.

Insider Transactions at VF

In other VF news, Director Richard Carucci bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $16.70 per share, for a total transaction of $250,500.00. Following the transaction, the director now directly owns 230,178 shares in the company, valued at $3,843,972.60. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of VF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in shares of VF by 328.0% in the second quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker’s stock worth $21,922,000 after purchasing an additional 1,244,448 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in VF by 90.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 202,723 shares of the textile maker’s stock valued at $2,737,000 after acquiring an additional 96,442 shares in the last quarter. Murphy Pohlad Asset Management LLC purchased a new position in VF during the 2nd quarter valued at $1,668,000. Fiduciary Alliance LLC purchased a new stake in shares of VF in the 1st quarter worth about $2,002,000. Finally, Smith Thornton Advisors LLC bought a new stake in shares of VF during the 2nd quarter valued at about $436,000. Institutional investors own 86.84% of the company’s stock.

About VF

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.