VF (VFC) Raised to “Buy” at Cowen
Cowen upgraded shares of VF (NYSE:VFC) from a market perform rating to a buy rating in a research report released on Friday, The Fly reports. Cowen currently has $106.00 price target on the textile maker’s stock, up from their previous price target of $96.00.
VFC has been the topic of a number of other research reports. Canaccord Genuity reissued a buy rating and set a $108.00 price objective on shares of VF in a report on Monday, August 13th. Telsey Advisory Group raised their price objective on shares of VF from $86.00 to $107.00 and gave the stock an outperform rating in a report on Monday, July 23rd. Royal Bank of Canada reissued a buy rating and set a $105.00 price objective on shares of VF in a report on Thursday, July 26th. Bank of America raised shares of VF from an underperform rating to a buy rating and set a $96.00 price objective on the stock in a report on Friday, July 13th. Finally, Citigroup raised their price objective on shares of VF from $80.00 to $95.00 and gave the stock a neutral rating in a report on Monday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $94.61.
VFC stock opened at $91.17 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 1.45. VF has a twelve month low of $61.56 and a twelve month high of $97.00. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 2.32 and a beta of 0.98.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Monday, September 10th will be issued a $0.46 dividend. The ex-dividend date is Friday, September 7th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.02%. VF’s payout ratio is 61.74%.
In other VF news, VP Kevin Bailey sold 4,400 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $91.95, for a total value of $404,580.00. Following the transaction, the vice president now directly owns 28,861 shares of the company’s stock, valued at approximately $2,653,768.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Roe sold 29,544 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $92.78, for a total transaction of $2,741,092.32. Following the completion of the transaction, the chief financial officer now directly owns 102,165 shares in the company, valued at $9,478,868.70. The disclosure for this sale can be found here. Insiders sold a total of 128,533 shares of company stock worth $11,932,040 over the last ninety days. Corporate insiders own 1.72% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. HRT Financial LLC acquired a new position in VF in the 2nd quarter valued at $218,000. Bank of New York Mellon Corp increased its stake in VF by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,736,782 shares of the textile maker’s stock valued at $223,103,000 after buying an additional 9,878 shares during the period. Physicians Financial Services Inc. acquired a new position in VF in the 2nd quarter valued at $208,000. HighPoint Advisor Group LLC increased its stake in VF by 121.4% in the 2nd quarter. HighPoint Advisor Group LLC now owns 6,031 shares of the textile maker’s stock valued at $550,000 after buying an additional 3,307 shares during the period. Finally, Nomura Holdings Inc. increased its stake in VF by 10.5% in the 2nd quarter. Nomura Holdings Inc. now owns 227,429 shares of the textile maker’s stock valued at $18,540,000 after buying an additional 21,672 shares during the period. 83.95% of the stock is currently owned by institutional investors.
VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor & Action Sports, Jeanswear, Imagewear and Others. The Outdoor & Action Sports segment refers to outdoor and activity-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.
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