JPMorgan Chase & Co. Reaffirms “Underweight” Rating for V.F. (NYSE:VFC)

V.F. (NYSE:VFC)‘s stock had its “underweight” rating reissued by JPMorgan Chase & Co. in a report released on Monday, Marketbeat reports. They currently have a $18.00 target price on the textile maker’s stock, down from their previous target price of $19.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 15.11% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim began coverage on shares of V.F. in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Citigroup lifted their price objective on shares of V.F. from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Wall Street Zen upgraded shares of V.F. from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Piper Sandler lifted their price target on V.F. from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Argus raised V.F. to a “strong-buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.16.

V.F. Price Performance

NYSE:VFC opened at $21.20 on Monday. The business’s 50-day moving average is $19.53 and its 200 day moving average is $16.63. V.F. has a 12 month low of $9.41 and a 12 month high of $26.69. The company has a market capitalization of $8.30 billion, a P/E ratio of 38.55, a P/E/G ratio of 1.45 and a beta of 1.65. The company has a current ratio of 1.55, a quick ratio of 1.03 and a debt-to-equity ratio of 1.99.

V.F. (NYSE:VFC) last released its quarterly earnings data on Wednesday, January 28th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.81 billion. V.F. had a return on equity of 19.08% and a net margin of 2.33%.The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities research analysts forecast that V.F. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Juliana L. Chugg sold 6,678 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $21.30, for a total transaction of $142,241.40. Following the transaction, the director owned 40 shares of the company’s stock, valued at approximately $852. This represents a 99.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On V.F.

A number of institutional investors and hedge funds have recently modified their holdings of VFC. EverSource Wealth Advisors LLC boosted its holdings in V.F. by 59.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,748 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 1,027 shares during the period. Rothschild Investment LLC increased its stake in V.F. by 705.8% in the third quarter. Rothschild Investment LLC now owns 3,747 shares of the textile maker’s stock worth $54,000 after purchasing an additional 3,282 shares during the period. Rexford Capital Inc. purchased a new stake in V.F. in the second quarter worth $48,000. Global Wealth Strategies & Associates bought a new stake in shares of V.F. during the third quarter worth $82,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of V.F. by 50.1% during the third quarter. Farther Finance Advisors LLC now owns 7,465 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 2,490 shares during the period. 86.84% of the stock is owned by institutional investors.

About V.F.

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.