VF (NYSE:VFC) Shares Gap Up to $18.40

Shares of VF Corporation (NYSE:VFC) gapped up before the market opened on Wednesday . The stock had previously closed at $18.40, but opened at $19.35. VF shares last traded at $19.61, with a volume of 410,367 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on VFC. Evercore ISI increased their price target on VF from $14.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. Citigroup upgraded shares of VF from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $20.00 in a report on Thursday, July 18th. Barclays upgraded shares of VF from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $22.00 in a report on Wednesday. Telsey Advisory Group raised their price objective on shares of VF from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Finally, TD Cowen upped their target price on shares of VF from $9.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.19.

VF Trading Up 5.8 %

The company has a market cap of $7.57 billion, a P/E ratio of -7.84, a PEG ratio of 1.94 and a beta of 1.53. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. The business has a 50 day moving average price of $16.82 and a 200-day moving average price of $14.70.

VF (NYSE:VFC) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.85 billion. During the same period in the prior year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Analysts forecast that VF Corporation will post 0.73 earnings per share for the current fiscal year.

VF Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, September 10th. VF’s payout ratio is currently -14.40%.

Insiders Place Their Bets

In other VF news, Director Richard Carucci bought 15,000 shares of VF stock in a transaction dated Thursday, August 22nd. The stock was bought at an average cost of $16.70 per share, for a total transaction of $250,500.00. Following the purchase, the director now owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Trading of VF

A number of hedge funds have recently modified their holdings of VFC. Dimensional Fund Advisors LP lifted its position in VF by 22.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,241,702 shares of the textile maker’s stock worth $60,951,000 after acquiring an additional 590,434 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in VF by 24.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,920 shares of the textile maker’s stock valued at $469,000 after purchasing an additional 4,865 shares during the period. Panagora Asset Management Inc. boosted its stake in VF by 11.6% in the 4th quarter. Panagora Asset Management Inc. now owns 30,134 shares of the textile maker’s stock valued at $567,000 after purchasing an additional 3,140 shares during the period. Robeco Institutional Asset Management B.V. increased its position in VF by 785.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 62,420 shares of the textile maker’s stock worth $1,173,000 after acquiring an additional 55,371 shares during the period. Finally, Norges Bank bought a new position in shares of VF during the fourth quarter worth approximately $76,059,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

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.