VF (NYSE:VFC) Price Target Raised to $23.00 at JPMorgan Chase & Co.

VF (NYSE:VFC) had its price target upped by JPMorgan Chase & Co. from $20.00 to $23.00 in a report issued on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the textile maker’s stock.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company downgraded shares of VF from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $16.00 to $15.00 in a research note on Monday, October 14th. Robert W. Baird increased their price target on shares of VF from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barclays boosted their price objective on shares of VF from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group started coverage on VF in a research report on Friday, October 11th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Truist Financial began coverage on VF in a research report on Thursday, December 5th. They set a “hold” rating and a $20.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, VF has an average rating of “Hold” and a consensus target price of $19.63.

VF Stock Performance

NYSE:VFC opened at $23.71 on Thursday. VF has a 1-year low of $11.00 and a 1-year high of $24.00. The firm has a 50 day simple moving average of $21.23 and a 200-day simple moving average of $18.92. The firm has a market cap of $9.23 billion, a PE ratio of -13.70, a P/E/G ratio of 8.84 and a beta of 1.45. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.30 and a quick ratio of 0.88.

VF (NYSE:VFC) last issued its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.19. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.72 billion. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. On average, equities analysts expect that VF will post 0.48 EPS for the current year.

VF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were issued a $0.09 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. VF’s dividend payout ratio is currently -20.81%.

Institutional Trading of VF

Several large investors have recently modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in VF by 28.0% in the second quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock valued at $159,609,000 after purchasing an additional 2,589,852 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 113,128 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of VF by 1.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,663,341 shares of the textile maker’s stock valued at $73,084,000 after buying an additional 65,919 shares during the last quarter. Deprince Race & Zollo Inc. grew its position 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 in the last quarter. Finally, Public Sector Pension Investment Board increased its stake 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 worth $9,816,000 after buying an additional 677,519 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

VF Company Profile

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.