Shares of V.F. Co. (NYSE:VFC – Get Free Report) were down 5.7% on Monday . The stock traded as low as $14.02 and last traded at $14.05. Approximately 2,338,030 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 7,663,522 shares. The stock had previously closed at $14.90.
Analysts Set New Price Targets
VFC has been the topic of a number of research reports. StockNews.com initiated coverage on shares of V.F. in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Barclays dropped their target price on V.F. from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 2nd. Citigroup dropped their price objective on V.F. from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 24th. TheStreet downgraded shares of V.F. from a “c-” rating to a “d+” rating in a report on Monday, October 30th. Finally, Telsey Advisory Group lowered their price target on shares of V.F. from $27.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, V.F. presently has an average rating of “Hold” and an average target price of $20.59.
V.F. Price Performance
V.F. (NYSE:VFC – Get Free Report) last posted its quarterly earnings results on Monday, October 30th. The textile maker reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. V.F. had a negative net margin of 1.89% and a positive return on equity of 24.58%. V.F.’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. As a group, equities analysts forecast that V.F. Co. will post 1.56 earnings per share for the current year.
V.F. Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 11th will be given a $0.09 dividend. The ex-dividend date is Friday, December 8th. This represents a $0.36 annualized dividend and a yield of 2.31%. V.F.’s dividend payout ratio is presently -218.18%.
Insider Transactions at V.F.
In other news, Director Matthew J. Shattock purchased 20,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average cost of $14.58 per share, with a total value of $291,600.00. Following the completion of the acquisition, the director now owns 40,000 shares of the company’s stock, valued at approximately $583,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.
Hedge Funds Weigh In On V.F.
Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of V.F. during the 3rd quarter worth approximately $27,000. CKW Financial Group purchased a new stake in V.F. in the 3rd quarter worth $30,000. PCA Investment Advisory Services Inc. acquired a new position in V.F. during the second quarter worth $31,000. Quent Capital LLC grew its position in shares of V.F. by 43.0% in the third quarter. Quent Capital LLC now owns 2,133 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 641 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of V.F. by 121.4% during the second quarter. Harbour Investments Inc. now owns 2,068 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,134 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.
V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.
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