VF (NYSE:VFC) Upgraded by OTR Global to “Positive” Rating

OTR Global upgraded shares of VF (NYSE:VFC) from a mixed rating to a positive rating in a research note released on Friday,Benzinga reports.

A number of other research firms have also commented on VFC. Barclays raised their price objective on shares of VF from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. TD Cowen lifted their price target on VF from $16.00 to $19.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Stifel Nicolaus raised their price objective on VF from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on VF from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Robert W. Baird raised their price target on shares of VF from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.11.

VF Stock Performance

Shares of NYSE VFC opened at $22.73 on Friday. VF has a 52-week low of $11.00 and a 52-week high of $23.49. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of -13.14, a PEG ratio of 8.19 and a beta of 1.45. 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 stock’s fifty day simple moving average is $21.02 and its 200 day simple moving average is $18.59.

VF (NYSE:VFC) last posted its quarterly earnings data on Monday, October 28th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.19. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that VF will post 0.48 earnings per share for the current fiscal year.

VF Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, December 10th. VF’s dividend payout ratio is -20.81%.

Institutional Trading of VF

Several large investors have recently modified their holdings of VFC. Pacer Advisors Inc. boosted its holdings in VF by 28.0% during the second quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock valued at $159,609,000 after acquiring an additional 2,589,852 shares during the period. Dimensional Fund Advisors LP grew its holdings in VF by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker’s stock valued at $55,694,000 after buying an additional 113,128 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in VF by 1.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock worth $73,084,000 after buying an additional 65,919 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in shares of VF by 28.3% during the second quarter. Deprince Race & Zollo Inc. now owns 3,057,884 shares of the textile maker’s stock worth $41,281,000 after buying an additional 673,979 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of VF by 1,365.2% in the second quarter. Public Sector Pension Investment Board now owns 727,148 shares of the textile maker’s stock valued at $9,816,000 after acquiring an additional 677,519 shares during the period. 86.84% of the stock is owned by institutional investors.

About VF

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.