V.F. (NYSE:VFC) Price Target Cut to $13.00

V.F. (NYSE:VFC) had its price objective cut by Wedbush from $15.50 to $13.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. Wedbush’s target price points to a potential upside of 5.26% from the stock’s current price. Wedbush also issued estimates for V.F.’s FY2024 earnings at $0.98 EPS and Q3 2025 earnings at $0.65 EPS.

A number of other research analysts have also recently weighed in on the stock. BNP Paribas reissued a “neutral” rating and set a $14.00 target price (down from $18.00) on shares of V.F. in a research report on Friday, April 12th. Citigroup lowered their target price on shares of V.F. from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. 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. 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 report on Monday, February 5th. Finally, Wells Fargo & Company reduced their target price on V.F. from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.16.

V.F. Price Performance

Shares of NYSE:VFC opened at $12.35 on Tuesday. V.F. has a 1-year low of $11.91 and a 1-year high of $21.17. The company has a current ratio of 1.23, a quick ratio of 0.70 and a debt-to-equity ratio of 2.25. The stock has a market cap of $4.80 billion, a PE ratio of -6.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.49. The stock’s fifty day simple moving average is $13.34 and its two-hundred day simple moving average is $15.67.

V.F. (NYSE:VFC) last released its quarterly earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.34). V.F. had a positive return on equity of 19.03% and a negative net margin of 7.07%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, analysts forecast that V.F. will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On V.F.

Several institutional investors have recently modified their holdings of VFC. Tidal Investments LLC bought a new position in shares of V.F. during the 1st quarter valued at $1,089,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of V.F. in the 1st quarter valued at about $161,000. Janus Henderson Group PLC boosted its holdings in V.F. by 322.9% during the 1st quarter. Janus Henderson Group PLC now owns 183,779 shares of the textile maker’s stock valued at $2,818,000 after acquiring an additional 140,323 shares during the period. Price T Rowe Associates Inc. MD grew its position in V.F. by 0.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 442,206 shares of the textile maker’s stock worth $6,784,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in V.F. by 302.4% in the 1st quarter. Quadrature Capital Ltd now owns 181,655 shares of the textile maker’s stock worth $2,787,000 after purchasing an additional 136,507 shares during the period. 86.84% of the stock is currently 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.