V.F. Corporation (VFC) Given a $69.00 Price Target by Cowen and Company Analysts
V.F. Corporation (NYSE:VFC) has been assigned a $69.00 price target by investment analysts at Cowen and Company in a report issued on Monday. The brokerage presently has a “hold” rating on the textile maker’s stock. Cowen and Company’s price target would indicate a potential downside of 1.36% from the stock’s current price.
Several other brokerages have also recently issued reports on VFC. UBS AG reaffirmed a “buy” rating and set a $77.00 price objective (up previously from $66.00) on shares of V.F. Corporation in a research note on Tuesday. Piper Jaffray Companies upped their price objective on shares of V.F. Corporation to $70.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley upped their price objective on shares of V.F. Corporation from $61.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday. Buckingham Research upped their price objective on shares of V.F. Corporation from $62.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, DA Davidson upped their price objective on shares of V.F. Corporation to $72.00 and gave the company a “neutral” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the stock. V.F. Corporation currently has an average rating of “Hold” and an average price target of $64.86.
Shares of V.F. Corporation (VFC) traded up 1.54% on Monday, hitting $71.03. The stock had a trading volume of 2,425,391 shares. The firm has a market cap of $27.96 billion, a P/E ratio of 27.10 and a beta of 0.77. The firm’s 50-day moving average price is $63.78 and its 200 day moving average price is $58.96. V.F. Corporation has a 12 month low of $48.05 and a 12 month high of $71.95.
V.F. Corporation (NYSE:VFC) last announced its quarterly earnings data on Monday, October 23rd. The textile maker reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.11. V.F. Corporation had a net margin of 9.23% and a return on equity of 27.44%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the company earned $1.20 EPS. V.F. Corporation’s revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that V.F. Corporation will post $2.98 EPS for the current fiscal year.
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In other news, VP Aidan O’meara sold 29,336 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $62.54, for a total value of $1,834,673.44. Following the transaction, the vice president now directly owns 120,680 shares in the company, valued at approximately $7,547,327.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Eric C. Wiseman sold 110,943 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $63.65, for a total transaction of $7,061,521.95. Following the completion of the transaction, the chairman now owns 660,806 shares in the company, valued at $42,060,301.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 453,152 shares of company stock worth $28,649,326. Company insiders own 1.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Orrstown Financial Services Inc. lifted its holdings in V.F. Corporation by 9.2% during the 2nd quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock worth $103,000 after buying an additional 150 shares in the last quarter. Zions Bancorporation lifted its holdings in V.F. Corporation by 1.5% during the 1st quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock worth $140,000 after buying an additional 38 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in V.F. Corporation during the 1st quarter worth approximately $187,000. Ronald Blue & Co. LLC acquired a new stake in V.F. Corporation during the 2nd quarter worth approximately $203,000. Finally, RNC Capital Management LLC lifted its holdings in V.F. Corporation by 1.5% during the 2nd quarter. RNC Capital Management LLC now owns 4,135 shares of the textile maker’s stock worth $238,000 after buying an additional 60 shares in the last quarter.
About V.F. Corporation
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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