JPMorgan Chase & Co. Forecasts Strong Price Appreciation for VF (NYSE:VFC) Stock

VF (NYSE:VFC) had its target price upped by JPMorgan Chase & Co. from $20.00 to $23.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their target price on VF from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Argus raised VF from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, December 17th. Telsey Advisory Group upped their target price on VF from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Guggenheim boosted their price target on VF from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Citigroup increased their price target on VF from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.63.

VF Stock Performance

VFC opened at $23.62 on Thursday. VF has a 12-month low of $11.00 and a 12-month high of $23.87. The stock has a fifty day simple moving average of $21.13 and a two-hundred day simple moving average of $18.82. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 2.86.

VF (NYSE:VFC) last announced its earnings results on Monday, October 28th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.19. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that VF will post 0.48 EPS for the current fiscal year.

VF Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, December 10th. VF’s payout ratio is -20.81%.

Institutional Trading of VF

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in VF by 22.6% during the 2nd quarter. Victory Capital Management Inc. now owns 73,513 shares of the textile maker’s stock worth $992,000 after purchasing an additional 13,556 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of VF by 22.3% in the second quarter. American Century Companies Inc. now owns 88,093 shares of the textile maker’s stock valued at $1,189,000 after buying an additional 16,041 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of VF by 22.2% in the second quarter. J.W. Cole Advisors Inc. now owns 16,076 shares of the textile maker’s stock valued at $217,000 after purchasing an additional 2,919 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of VF by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker’s stock valued at $55,694,000 after purchasing an additional 113,128 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of VF in the second quarter valued at about $196,000. Institutional investors own 86.84% of the company’s stock.

About VF

VF Corp. engages in the business of producing and marketing apparel, footwear, and accessories. It operates through the following segments: Outdoor, Active, Work, and Other. The Outdoor segment includes authentic outdoor-based lifestyle brands such as performance-based and outdoor apparel, footwear, and equipment.