VF (VFC) Upgraded to “Overweight” at Piper Jaffray Companies

VF (NYSE:VFC) was upgraded by equities researchers at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has a $56.00 target price on the textile maker’s stock. Piper Jaffray Companies’ price target points to a potential downside of 28.78% from the company’s previous close.

Several other analysts also recently commented on the company. Barclays assumed coverage on VF in a research note on Friday. They set an “overweight” rating and a $96.00 price objective for the company. Susquehanna Bancshares reaffirmed a “buy” rating and set a $95.00 price objective on shares of VF in a research note on Monday, January 29th. Canaccord Genuity reaffirmed a “buy” rating and set a $90.00 price objective (up from $81.00) on shares of VF in a research note on Monday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $84.00 price objective on shares of VF in a research note on Wednesday, January 10th. Finally, Robert W. Baird reaffirmed an “average” rating and set a $84.00 price objective on shares of VF in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $71.76.

VF (VFC) traded down $1.26 on Monday, reaching $78.63. The company’s stock had a trading volume of 4,607,833 shares, compared to its average volume of 2,190,000. The company has a current ratio of 1.47, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54. The stock has a market cap of $31,070.00, a P/E ratio of 32.63, a PEG ratio of 2.25 and a beta of 0.91. VF has a 12-month low of $48.05 and a 12-month high of $82.95.

In other news, Director Clarence Otis, Jr. sold 12,552 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $69.37, for a total transaction of $870,732.24. Following the completion of the transaction, the director now directly owns 26,053 shares of the company’s stock, valued at approximately $1,807,296.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Scott H. Baxter sold 89,822 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $71.14, for a total value of $6,389,937.08. Following the completion of the transaction, the vice president now directly owns 127,844 shares of the company’s stock, valued at $9,094,822.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,068 shares of company stock valued at $11,079,900. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in VF by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,913,402 shares of the textile maker’s stock valued at $289,592,000 after purchasing an additional 236,963 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in VF by 5.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,744,948 shares of the textile maker’s stock valued at $129,127,000 after purchasing an additional 97,588 shares in the last quarter. AMG National Trust Bank grew its holdings in VF by 0.7% during the 3rd quarter. AMG National Trust Bank now owns 1,347,332 shares of the textile maker’s stock valued at $85,650,000 after buying an additional 9,604 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in VF by 8.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,000,746 shares of the textile maker’s stock valued at $63,617,000 after buying an additional 73,716 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in VF by 2.4% during the 3rd quarter. New York State Common Retirement Fund now owns 934,700 shares of the textile maker’s stock valued at $59,419,000 after buying an additional 22,300 shares during the last quarter.

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About VF

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.