VF (NYSE:VFC) Shares Gap Down – Here’s What Happened

VF Corporation (NYSE:VFC)’s stock price gapped down before the market opened 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.

Wall Street Analyst Weigh In

VFC has been the topic of a number of recent research reports. Citigroup upgraded VF from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 to $20.00 in a research note on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on VF from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company lowered shares of VF from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $16.00 to $15.00 in a research report on Monday, October 14th. Argus raised shares of VF to a “hold” rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group initiated coverage on shares of VF in a report on Friday, September 27th. They set a “hold” rating and a $20.00 target price on the stock. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.24.

VF Stock Down 6.8 %

The company has a market capitalization of $7.11 billion, a P/E ratio of -6.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.53. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.51 and a current ratio of 0.99. The firm’s fifty day moving average is $18.50 and its 200-day moving average is $15.42.

VF (NYSE:VFC) last announced 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. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.85 billion. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) earnings per share. As a group, equities research analysts predict that VF Corporation will post 0.73 EPS for the current year.

VF Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 10th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, September 10th. VF’s dividend payout ratio (DPR) is presently -11.92%.

Insider Activity at VF

In other VF news, Director Richard Carucci bought 15,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $16.70 per share, for a total transaction of $250,500.00. Following the completion of the acquisition, the director now owns 230,178 shares in the company, valued at $3,843,972.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On VF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fiduciary Alliance LLC grew its stake in VF by 18.9% in the third quarter. Fiduciary Alliance LLC now owns 240,100 shares of the textile maker’s stock valued at $4,790,000 after acquiring an additional 38,088 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of VF during the third quarter worth about $40,000. GAMMA Investing LLC raised its holdings in shares of VF by 44.7% in the 3rd quarter. GAMMA Investing LLC now owns 27,906 shares of the textile maker’s stock worth $557,000 after acquiring an additional 8,615 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in VF by 40.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 107,700 shares of the textile maker’s stock worth $2,149,000 after purchasing an additional 30,800 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of VF by 1,917.1% in the third quarter. Quent Capital LLC now owns 12,627 shares of the textile maker’s stock worth $247,000 after purchasing an additional 12,001 shares during the last quarter. 86.84% of the stock is owned by institutional investors.

About VF

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.