VF (NYSE:VFC) Shares Gap Down – Here’s Why

Shares of VF Corporation (NYSE:VFC) gapped down prior to trading 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

A number of brokerages have recently issued reports on VFC. JPMorgan Chase & Co. dropped their price objective on shares of VF from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group increased their target price on shares of VF from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. StockNews.com cut shares of VF from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Robert W. Baird boosted their target price on VF from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Argus raised shares of VF to a “hold” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, VF currently has a consensus rating of “Hold” and an average price target of $17.24.

VF Stock Performance

The stock has a market cap of $6.92 billion, a P/E ratio of -5.89, a PEG ratio of 2.19 and a beta of 1.53. The stock has a fifty day simple moving average of $18.54 and a 200-day simple moving average of $15.48. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.51 and a current ratio of 0.99.

VF (NYSE:VFC) last announced its earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.04. VF had a positive return on equity of 11.75% and a negative net margin of 11.39%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm earned ($0.15) EPS. VF’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities analysts expect that VF Corporation will post 0.73 earnings per share for the current year.

VF Dividend Announcement

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. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.36 annualized dividend and a yield of 2.02%. VF’s dividend payout ratio (DPR) is presently -11.92%.

Insider Activity

In related news, Director Richard Carucci purchased 15,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $16.70 per share, for a total transaction of $250,500.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VFC. V Square Quantitative Management LLC increased its position in VF by 8.9% during the second quarter. V Square Quantitative Management LLC now owns 10,803 shares of the textile maker’s stock worth $146,000 after buying an additional 879 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in VF by 50.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,681 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 895 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in VF by 0.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 106,281 shares of the textile maker’s stock worth $1,630,000 after purchasing an additional 959 shares during the period. Arizona State Retirement System increased its holdings in shares of VF by 1.9% in the second quarter. Arizona State Retirement System now owns 92,524 shares of the textile maker’s stock valued at $1,249,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of VF by 0.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 442,206 shares of the textile maker’s stock worth $6,784,000 after buying an additional 1,694 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

VF 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.