V.F. (NYSE:VFC) Price Target Lowered to $11.00 at Wells Fargo & Company

V.F. (NYSE:VFC) had its target price lowered by Wells Fargo & Company from $14.00 to $11.00 in a research note issued to investors on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the textile maker’s stock.

Several other brokerages also recently commented on VFC. Citigroup cut their target price on V.F. from $16.00 to $13.00 and set a neutral rating on the stock in a report on Wednesday, May 15th. Telsey Advisory Group reaffirmed a market perform rating and issued a $13.00 price objective (down from $18.00) on shares of V.F. in a research note on Thursday. Wedbush decreased their target price on shares of V.F. from $15.50 to $13.00 and set a neutral rating for the company in a research report on Tuesday, May 21st. JPMorgan Chase & Co. dropped their price target on shares of V.F. from $16.00 to $12.00 and set a neutral rating on the stock in a research report on Monday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of V.F. from $14.00 to $12.50 and set a neutral rating on the stock in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $13.44.

V.F. Stock Performance

V.F. stock opened at $12.34 on Thursday. The business has a 50 day moving average of $13.24 and a 200-day moving average of $15.62. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.22 and a quick ratio of 0.70. V.F. has a 1 year low of $11.00 and a 1 year high of $21.17. The company has a market capitalization of $4.80 billion, a P/E ratio of -4.94, a P/E/G ratio of 1.47 and a beta of 1.49.

V.F. (NYSE:VFC) last announced its quarterly earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.34). The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.42 billion. V.F. had a negative net margin of 9.27% and a positive return on equity of 13.14%. The company’s revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 earnings per share. On average, equities research analysts predict that V.F. will post 0.96 earnings per share for the current year.

V.F. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, June 10th. V.F.’s dividend payout ratio (DPR) is currently -14.40%.

Institutional Investors Weigh In On V.F.

A number of hedge funds have recently added to or reduced their stakes in the company. Prudential PLC lifted its holdings in shares of V.F. by 20.6% in the 3rd quarter. Prudential PLC now owns 23,864 shares of the textile maker’s stock worth $422,000 after purchasing an additional 4,070 shares in the last quarter. Deutsche Bank AG raised its holdings in V.F. by 11.9% during the third quarter. Deutsche Bank AG now owns 1,581,532 shares of the textile maker’s stock worth $27,946,000 after buying an additional 168,465 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of V.F. by 1.2% in the third quarter. Vanguard Group Inc. now owns 41,239,841 shares of the textile maker’s stock valued at $728,708,000 after buying an additional 475,239 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of V.F. by 3.0% during the third quarter. Nordea Investment Management AB now owns 27,478 shares of the textile maker’s stock valued at $486,000 after buying an additional 812 shares during the last quarter. Finally, Partnership Wealth Management LLC bought a new stake in shares of V.F. during the fourth quarter worth about $2,960,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

V.F. 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.