Wedbush Lowers VF (NYSE:VFC) Price Target to $90.00

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VF (NYSE:VFC) had its price target decreased by stock analysts at Wedbush from $98.00 to $90.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the textile maker’s stock. Wedbush’s target price indicates a potential upside of 5.37% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Barclays initiated coverage on VF in a research report on Tuesday, November 12th. They set an “overweight” rating and a $103.00 target price for the company. Guggenheim restated a “buy” rating on shares of VF in a research note on Tuesday, December 10th. Credit Suisse Group upped their price objective on shares of VF from $104.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $119.00 price objective on shares of VF in a report on Tuesday. Finally, ValuEngine lowered shares of VF from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. VF currently has a consensus rating of “Buy” and an average price target of $100.67.

Shares of NYSE:VFC opened at $85.41 on Friday. VF has a fifty-two week low of $76.77 and a fifty-two week high of $100.25. The business has a 50-day moving average of $95.67 and a two-hundred day moving average of $88.55. The stock has a market capitalization of $37.77 billion, a P/E ratio of 26.61, a P/E/G ratio of 2.49 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.99 and a quick ratio of 1.20.

VF (NYSE:VFC) last issued its quarterly earnings data on Thursday, January 23rd. The textile maker reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. VF had a return on equity of 32.04% and a net margin of 10.07%. The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts expect that VF will post 3.36 EPS for the current fiscal year.

In other news, Director Clarence Otis, Jr. sold 16,930 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $91.14, for a total transaction of $1,543,000.20. Following the completion of the transaction, the director now owns 25,722 shares of the company’s stock, valued at $2,344,303.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven E. Rendle sold 155,582 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $91.40, for a total transaction of $14,220,194.80. Following the transaction, the chief executive officer now directly owns 302,013 shares of the company’s stock, valued at approximately $27,603,988.20. The disclosure for this sale can be found here. Insiders sold 193,826 shares of company stock valued at $17,535,241 over the last three months. 0.74% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC raised its stake in shares of VF by 825.2% in the second quarter. Nuveen Asset Management LLC now owns 1,368,778 shares of the textile maker’s stock valued at $119,562,000 after purchasing an additional 1,220,833 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in VF in the third quarter valued at about $23,333,000. Assenagon Asset Management S.A. increased its stake in VF by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 309,754 shares of the textile maker’s stock valued at $30,870,000 after acquiring an additional 235,641 shares during the period. Point72 Asset Management L.P. raised its position in VF by 1,243.0% in the third quarter. Point72 Asset Management L.P. now owns 218,567 shares of the textile maker’s stock worth $19,450,000 after purchasing an additional 202,293 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in VF in the second quarter worth about $16,623,000.

VF Company Profile

V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.

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Analyst Recommendations for VF (NYSE:VFC)

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