BMO Capital Markets Cuts V.F. (NYSE:VFC) Price Target to $13.00

V.F. (NYSE:VFC) had its price target reduced by BMO Capital Markets from $18.00 to $13.00 in a research note published on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the textile maker’s stock.

A number of other research analysts have also recently issued reports on VFC. The Goldman Sachs Group cut their price target on V.F. from $14.00 to $12.50 and set a neutral rating for the company in a report on Friday, April 26th. Stifel Nicolaus reaffirmed a buy rating and issued a $22.00 price target on shares of V.F. in a report on Tuesday, April 9th. Citigroup lowered their price objective on V.F. from $16.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, May 15th. BNP Paribas reiterated a neutral rating and issued a $14.00 price objective (down from $18.00) on shares of V.F. in a research report on Friday, April 12th. Finally, Wells Fargo & Company lowered their price objective on V.F. from $14.00 to $11.00 and set an equal weight rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $13.44.

V.F. Stock Up 3.1 %

Shares of NYSE VFC opened at $12.34 on Thursday. The business has a fifty day moving average of $13.24 and a two-hundred day moving average of $15.62. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.70 and a current ratio of 1.22. V.F. has a 52-week low of $11.00 and a 52-week high of $21.17. The stock has a market cap of $4.80 billion, a PE ratio of -4.94, a PEG ratio of 1.43 and a beta of 1.49.

V.F. (NYSE:VFC) last released its quarterly earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.34). V.F. had a negative net margin of 9.27% and a positive return on equity of 13.14%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, equities research analysts expect that V.F. will post 1.27 earnings per share for the current fiscal year.

V.F. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.36 annualized dividend and a dividend yield of 2.92%. V.F.’s dividend payout ratio is presently -14.40%.

Hedge Funds Weigh In On V.F.

Several institutional investors and hedge funds have recently modified their holdings of VFC. M&G Plc acquired a new position in shares of V.F. in the 1st quarter valued at approximately $200,768,000. Norges Bank acquired a new position in shares of V.F. in the 4th quarter valued at approximately $76,059,000. Jackson Square Partners LLC acquired a new position in shares of V.F. in the 4th quarter valued at approximately $46,646,000. M&G Investment Management Ltd. grew its position in shares of V.F. by 19.4% in the 4th quarter. M&G Investment Management Ltd. now owns 12,413,169 shares of the textile maker’s stock valued at $235,850,000 after purchasing an additional 2,016,470 shares during the period. Finally, Capital World Investors acquired a new position in shares of V.F. in the 1st quarter valued at approximately $30,527,000. 86.84% of the stock is currently owned by institutional investors and hedge funds.

V.F. Company Profile

V.F. Corporation, together with its subsidiaries, engages in the design, 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 three segments: Outdoor, Active, and Work.