VF (NYSE:VFC) Sets New 12-Month High on Analyst Upgrade

Shares of VF Corporation (NYSE:VFC) reached a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $21.00 to $24.00. Jefferies Financial Group currently has a hold rating on the stock. VF traded as high as $26.57 and last traded at $26.93, with a volume of 477217 shares changing hands. The stock had previously closed at $25.99.

A number of other research analysts have also recently issued reports on VFC. OTR Global upgraded VF from a “mixed” rating to a “positive” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered shares of VF from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $16.00 to $15.00 in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on shares of VF from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group initiated coverage on shares of VF in a research note on Friday, October 11th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Truist Financial began coverage on VF in a research note on Thursday, December 5th. They issued a “hold” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in VF by 127.6% in the second quarter. Bank of Montreal Can now owns 62,046 shares of the textile maker’s stock valued at $878,000 after buying an additional 286,878 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of VF by 90.7% in the 2nd 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 purchasing an additional 96,442 shares during the period. TB Alternative Assets Ltd. bought a new stake in shares of VF during the 4th quarter valued at about $1,878,000. Segall Bryant & Hamill LLC grew its stake in VF by 1.8% during the third quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock worth $73,084,000 after purchasing an additional 65,919 shares during the period. Finally, Sei Investments Co. increased its holdings in VF by 26.7% in the second quarter. Sei Investments Co. now owns 207,120 shares of the textile maker’s stock worth $2,796,000 after purchasing an additional 43,697 shares in the last quarter. Institutional investors and hedge funds own 86.84% of the company’s stock.

VF Trading Down 4.3 %

The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86. The company has a 50 day simple moving average of $21.98 and a 200-day simple moving average of $19.61.

VF (NYSE:VFC) last released its earnings results on Wednesday, January 29th. The textile maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. VF had a negative net margin of 6.68% and a positive return on equity of 12.53%. During the same quarter in the prior year, the firm posted $0.57 EPS. Equities analysts predict that VF Corporation will post 0.48 earnings per share for the current year.

VF Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.42%. VF’s dividend payout ratio is presently -20.81%.

VF Company Profile

VF Corp. engages in the business of producing and marketing apparel, footwear, and accessories. It operates through the following segments: Outdoor, Active, Work, and Other. The Outdoor segment includes authentic outdoor-based lifestyle brands such as performance-based and outdoor apparel, footwear, and equipment.