VF (NYSE:VFC) Shares Gap Down - Here's Why

VF Corporation (NYSE:VFC - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $19.60, but opened at $17.85. VF shares last traded at $18.29, with a volume of 2,090,386 shares traded.

Analysts Set New Price Targets

VFC has been the subject of several research reports. Robert W. Baird lifted their price objective on VF from $13.00 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Citigroup upgraded shares of VF from a "neutral" rating to a "buy" rating and raised their target price for the stock from $11.00 to $20.00 in a research report on Thursday, July 18th. The Goldman Sachs Group initiated coverage on shares of VF in a research note on Friday, October 11th. They issued a "neutral" rating and a $20.00 target price for the company. Wedbush restated a "neutral" rating and set a $13.00 price objective on shares of VF in a report on Monday, August 5th. Finally, UBS Group lifted their price objective on VF from $12.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, VF currently has an average rating of "Hold" and an average price target of $17.24.

VF Stock Down 7.3 %

The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. The firm has a 50-day moving average of $18.54 and a 200 day moving average of $15.46. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of -6.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.53.

Remove Ads

VF (NYSE:VFC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.04. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm posted ($0.15) EPS. The firm's quarterly revenue was down 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that VF Corporation will post 0.73 earnings per share for the current year.

VF Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.36 annualized dividend and a yield of 1.98%. VF's dividend payout ratio is presently -11.92%.

Insider Activity

In related news, Director Richard Carucci purchased 15,000 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $16.70 per share, for a total transaction of $250,500.00. Following the completion of the purchase, the director now owns 230,178 shares in the company, valued at approximately $3,843,972.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company's stock.

Institutional Trading of VF

Hedge funds and other institutional investors have recently bought and sold shares of the company. M&G Plc grew its position in shares of VF by 10.0% in the 2nd quarter. M&G Plc now owns 14,729,396 shares of the textile maker's stock worth $206,212,000 after acquiring an additional 1,344,849 shares in the last quarter. Pacer Advisors Inc. lifted its stake in VF by 28.0% during the second quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker's stock worth $159,609,000 after purchasing an additional 2,589,852 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in VF by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker's stock valued at $55,694,000 after purchasing an additional 113,128 shares during the last quarter. Deprince Race & Zollo Inc. raised 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 purchasing an additional 673,979 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of VF by 23.6% during the second quarter. Bank of New York Mellon Corp now owns 2,481,600 shares of the textile maker's stock worth $33,502,000 after purchasing an additional 473,373 shares during the period. 86.84% of the stock is owned by institutional investors.

VF 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.