V.F. (NYSE:VFC) Lowered to Neutral at Piper Sandler

Piper Sandler downgraded shares of V.F. (NYSE:VFC) from an overweight rating to a neutral rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Piper Sandler currently has $20.00 target price on the textile maker’s stock, down from their prior target price of $28.00.

A number of other research firms have also recently issued reports on VFC. Barclays cut their target price on shares of V.F. from $20.00 to $19.00 and set an equal weight rating for the company in a research note on Wednesday, August 2nd. 888 reissued a maintains rating on shares of V.F. in a report on Monday, May 22nd. Wedbush reaffirmed a neutral rating and issued a $21.00 target price on shares of V.F. in a research note on Tuesday, August 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of V.F. from $33.00 to $26.00 in a research report on Wednesday, May 24th. Finally, BMO Capital Markets cut their price target on shares of V.F. from $25.00 to $22.00 and set a market perform rating on the stock in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, V.F. presently has a consensus rating of Hold and an average target price of $25.74.

V.F. Stock Down 4.6 %

VFC opened at $17.33 on Monday. V.F. has a 12 month low of $16.77 and a 12 month high of $40.56. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.37 and a quick ratio of 0.64. The stock has a market cap of $6.74 billion, a P/E ratio of 57.77, a P/E/G ratio of 1.36 and a beta of 1.45. The stock’s 50 day moving average price is $19.41 and its 200 day moving average price is $20.31.

V.F. (NYSE:VFC) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. V.F. had a return on equity of 24.13% and a net margin of 1.02%. The business’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. As a group, research analysts predict that V.F. will post 2.06 earnings per share for the current year.

V.F. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Friday, September 8th. V.F.’s dividend payout ratio is currently 400.00%.

Institutional Trading of V.F.

Several hedge funds have recently added to or reduced their stakes in VFC. Moneta Group Investment Advisors LLC grew its stake in V.F. by 97,005.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,843,788 shares of the textile maker’s stock worth $437,447,000 after buying an additional 15,827,472 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of V.F. by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 40,200,890 shares of the textile maker’s stock worth $2,285,822,000 after acquiring an additional 5,626,337 shares in the last quarter. Millennium Management LLC grew its position in V.F. by 5,060.5% during the 4th quarter. Millennium Management LLC now owns 5,731,857 shares of the textile maker’s stock valued at $158,257,000 after purchasing an additional 5,620,786 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of V.F. by 295.0% during the 1st quarter. Renaissance Technologies LLC now owns 4,454,300 shares of the textile maker’s stock valued at $102,048,000 after acquiring an additional 3,326,600 shares during the last quarter. Finally, Dorsal Capital Management LLC bought a new position in shares of V.F. in the 2nd quarter worth approximately $61,088,000. Institutional investors own 80.81% of the company’s stock.

About V.F.

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.