Citigroup Lowers V.F. (NYSE:VFC) Price Target to $19.00

V.F. (NYSE:VFC) had its price objective dropped by Citigroup from $20.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the textile maker’s stock. Citigroup’s price target indicates a potential downside of 2.10% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler upped their target price on shares of V.F. from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of V.F. in a report on Thursday, January 8th. Seaport Research Partners raised shares of V.F. from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, April 14th. The Goldman Sachs Group boosted their price target on shares of V.F. from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Finally, Barclays reiterated an “overweight” rating on shares of V.F. in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, V.F. presently has an average rating of “Hold” and an average target price of $18.68.

V.F. Stock Performance

Shares of NYSE:VFC traded up $1.09 on Wednesday, reaching $19.41. The company’s stock had a trading volume of 4,459,719 shares, compared to its average volume of 6,687,336. The stock’s 50-day moving average is $18.13 and its two-hundred day moving average is $18.00. V.F. has a 52-week low of $11.06 and a 52-week high of $22.27. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.55 and a quick ratio of 1.03. The stock has a market capitalization of $7.59 billion, a P/E ratio of 35.29, a PEG ratio of 0.92 and a beta of 1.62.

Insiders Place Their Bets

In other V.F. news, Director Juliana L. Chugg sold 6,678 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $21.30, for a total transaction of $142,241.40. Following the transaction, the director directly owned 40 shares in the company, valued at approximately $852. This represents a 99.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in V.F. by 59.7% during the third quarter. EverSource Wealth Advisors LLC now owns 2,748 shares of the textile maker’s stock worth $40,000 after buying an additional 1,027 shares during the period. Root Financial Partners LLC grew its position in shares of V.F. by 282.9% in the first quarter. Root Financial Partners LLC now owns 3,052 shares of the textile maker’s stock valued at $52,000 after purchasing an additional 2,255 shares during the last quarter. Rothschild Investment LLC grew its position in shares of V.F. by 705.8% in the third quarter. Rothschild Investment LLC now owns 3,747 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 3,282 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of V.F. by 50.1% in the third quarter. Farther Finance Advisors LLC now owns 7,465 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 2,490 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of V.F. by 30.5% in the fourth quarter. GAMMA Investing LLC now owns 10,987 shares of the textile maker’s stock valued at $199,000 after purchasing an additional 2,570 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

V.F. Company Profile

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.