Pivotal Research Reiterates “Hold” Rating for VF (VFC)
VF (NYSE:VFC)‘s stock had its “hold” rating reissued by equities researchers at Pivotal Research in a report issued on Thursday, Briefing.com Automated Import reports. They presently have a $88.00 target price on the textile maker’s stock, up from their prior target price of $85.00. Pivotal Research’s price objective would suggest a potential upside of 3.10% from the company’s previous close.
A number of other research firms have also commented on VFC. Goldman Sachs Group began coverage on shares of VF in a research report on Friday, May 17th. They issued a “buy” rating and a $97.00 price objective for the company. Telsey Advisory Group restated an “outperform” rating and issued a $104.00 price objective (up from $96.00) on shares of VF in a research report on Thursday. UBS Group raised their price objective on shares of VF from $84.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Wedbush raised their price objective on shares of VF from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Cowen raised their price objective on shares of VF from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, February 19th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. VF has an average rating of “Buy” and an average target price of $93.95.
Shares of VFC stock traded down $4.98 during trading hours on Thursday, reaching $85.35. The stock had a trading volume of 686,893 shares, compared to its average volume of 1,691,806. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. VF has a 12 month low of $67.18 and a 12 month high of $97.00. The firm has a market capitalization of $36.44 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15.
In other VF news, VP Scott H. Baxter sold 51,911 shares of VF stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $84.25, for a total transaction of $4,373,501.75. Following the completion of the sale, the vice president now directly owns 201,972 shares in the company, valued at $17,016,141. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.72% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. First Citizens Bank & Trust Co. lifted its holdings in shares of VF by 0.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 22,621 shares of the textile maker’s stock worth $1,966,000 after acquiring an additional 116 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in shares of VF by 6.6% in the 4th quarter. NEXT Financial Group Inc now owns 1,929 shares of the textile maker’s stock worth $138,000 after acquiring an additional 120 shares during the last quarter. South State Corp lifted its holdings in shares of VF by 0.9% in the 4th quarter. South State Corp now owns 15,957 shares of the textile maker’s stock worth $1,139,000 after acquiring an additional 140 shares during the last quarter. Legacy Financial Strategies LLC lifted its holdings in shares of VF by 2.1% in the 4th quarter. Legacy Financial Strategies LLC now owns 7,007 shares of the textile maker’s stock worth $500,000 after acquiring an additional 143 shares during the last quarter. Finally, Covenant Multifamily Offices LLC lifted its holdings in shares of VF by 2.6% in the 1st quarter. Covenant Multifamily Offices LLC now owns 5,805 shares of the textile maker’s stock worth $505,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.
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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