Wells Fargo & Company Trims V.F. (NYSE:VFC) Target Price to $11.00

V.F. (NYSE:VFC) had its target price reduced by Wells Fargo & Company from $14.00 to $11.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on VFC. The Goldman Sachs Group dropped their price objective on V.F. from $14.00 to $12.50 and set a neutral rating on the stock in a research note on Friday, April 26th. BNP Paribas reissued a neutral rating and issued a $14.00 price objective (down from $18.00) on shares of V.F. in a research note on Friday, April 12th. StockNews.com raised V.F. from a sell rating to a hold rating in a research note on Thursday, February 8th. UBS Group dropped their price objective on V.F. from $19.00 to $18.00 and set a neutral rating on the stock in a research note on Monday, February 5th. Finally, Citigroup dropped their price objective on V.F. from $16.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, V.F. presently has a consensus rating of Hold and a consensus price target of $13.44.

V.F. Stock Up 3.1 %

Shares of VFC opened at $12.34 on Thursday. The company has a market capitalization of $4.80 billion, a PE ratio of -4.94, a PEG ratio of 1.43 and a beta of 1.49. V.F. has a 12 month low of $11.00 and a 12 month high of $21.17. The stock’s 50-day moving average price is $13.24 and its two-hundred day moving average price is $15.62. The company has a current ratio of 1.22, a quick ratio of 0.70 and a debt-to-equity ratio of 2.84.

V.F. (NYSE:VFC) last announced its earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.34). The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.42 billion. V.F. had a positive return on equity of 13.14% and a negative net margin of 9.27%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, analysts anticipate that V.F. will post 1.27 EPS for the current year.

V.F. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, June 10th. V.F.’s dividend payout ratio is currently -14.40%.

Institutional Trading of V.F.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VFC. Wolff Wiese Magana LLC increased its holdings in V.F. by 2,835.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 1,321 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,276 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in V.F. during the 4th quarter worth approximately $25,000. Mather Group LLC. bought a new stake in V.F. during the 1st quarter worth approximately $27,000. Future Financial Wealth Managment LLC bought a new position in shares of V.F. in the first quarter valued at approximately $31,000. Finally, Allworth Financial LP grew its holdings in shares of V.F. by 111.5% in the fourth quarter. Allworth Financial LP now owns 1,817 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 958 shares in the last quarter. 86.84% of the stock is owned by institutional investors.

About V.F.

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.