The Vanguard Group, Inc. recently announced the acquisition of new stake in V.F. Corporation (NYSE:VFC). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.67% to 40.43 million shares with purchase of 0.66 million shares. This fresh investment now brings its stake to 10.41% valued currently at $1.14 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 4.4 million to 24.96 million shares. And BlackRock Fund Advisors has lifted its position by 3.09% or 0.55 million shares – to 18.34 million shares.
With over 6.79 million V.F. Corporation (VFC) shares trading Tuesday and a closing price of $32.46 on the day, the dollar volume was approximately $220.43 million. The shares have shown a negative half year performance of -35.67% and its price on 11/29/22 gained nearly 0.15%. Currently, there are 387.69M common shares owned by the public and among those 387.27M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for VFC have a consensus price objective of $33.42. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $26.00. The average price target is 3.16% above its recent price level and a downside to the estimated low will see the stock lose -24.85% over that period. But an upside of 32.38% will see the stock hit the forecast high price target while median target price for the stock is $31.25.
Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 110,973 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 11,091 shares.
The top 3 mutual fund holders in V.F. Corporation are SPDR S&P Dividend ETF, Washington Mutual Investors Fund, and American Balanced Fund. SPDR S&P Dividend ETF owns 17.16 million shares of the company’s stock, all valued at over $484.72 million. The company bought an additional 4697.0 shares recently to bring their total holdings to about 4.42% of the shares outstanding. Washington Mutual Investors Fund sold -2.29 million shares to see its total holdings shrink to 12.01 million shares valued at over $339.37 million and representing 3.09% of the shares outstanding. American Balanced Fund bought 100000.0 shares to bring its total holdings to over 10.94 million shares at a value of $309.01 million. American Balanced Fund now owns shares totaling to 2.82% of the shares outstanding.
Shares of V.F. Corporation (NYSE: VFC) opened at $32.43, up $0.02 from a prior closing price of $32.41. However, the script later moved the day high at 32.62, up 0.15%. The company’s stock has a 5-day price change of 0.34% and -22.57% over the past three months. VFC shares are trading -55.67% year to date (YTD), with the 12-month market performance down to -55.97% lower. It has a 12-month low price of $26.46 and touched a high of $78.17 over the same period. VFC has an average intraday trading volume of 5.82 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.11%, 4.63%, and -27.90% respectively.
Institutional ownership of V.F. Corporation (NYSE: VFC) shares accounts for 90.20% of the company’s 387.69M shares outstanding. Mutual fund holders own 39.85%, while other institutional holders and individual stakeholders account for 51.32% and 22.95% respectively.
It has a market capitalization of $12.58B and a beta (3y monthly) value of 1.40. The stock’s trailing 12-month PE ratio is 30.17, while the earnings-per-share (ttm) stands at $1.08. The company has a PEG of 40.22 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 1.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.64% over the week and 4.25% over the month.
Analysts forecast that V.F. Corporation (VFC) will achieve an EPS of $1.2 for the current quarter, $0.39 for the next quarter and $2.79 for 2024. The lowest estimate earnings-per-share for the quarter is $1.08 while analysts give the company a high EPS estimate of $1.33. Comparatively, EPS for the current quarter was $1.36 a year ago. Earnings per share for the fiscal year are expected to increase by 242.40%, and 14.83% over the next financial year. EPS should shrink at an annualized rate of 0.75% over the next five years, compared to 11.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate V.F. Corporation (VFC) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 13 of the 24 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the VFC, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on October 27, 2022, with the firm’s price target at $29. Cowen coverage for the V.F. Corporation (VFC) stock in a research note released on August 22, 2022 offered a Market Perform rating with a price target of $50. Wells Fargo was of a view on April 05, 2022 that the stock is Equal Weight, while UBS gave the stock Neutral rating on January 31, 2022, issuing a price target of $71- $65. Truist on their part issued Hold rating on January 31, 2022.