VF (VFC) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of VF (NYSE:VFC) from a neutral rating to an overweight rating in a research report released on Monday, MarketBeat Ratings reports. They currently have $78.00 target price on the textile maker’s stock.

VFC has been the topic of several other reports. Bank of America upgraded 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. Goldman Sachs Group assumed coverage on shares of VF in a report on Monday, June 25th. They issued a buy rating and a $96.00 price objective on the stock. Buckingham Research boosted their price target on shares of VF to $77.00 and gave the stock a neutral rating in a research note on Tuesday, May 8th. DA Davidson reiterated a hold rating on shares of VF in a research note on Monday, May 7th. Finally, TheStreet upgraded shares of VF from a c+ rating to a b+ rating in a research note on Friday, May 4th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $86.21.

Shares of VFC opened at $89.24 on Monday. The stock has a market capitalization of $35.11 billion, a P/E ratio of 29.95, a P/E/G ratio of 2.51 and a beta of 0.93. VF has a 12-month low of $56.57 and a 12-month high of $89.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.49.

VF (NYSE:VFC) last issued its quarterly earnings data on Friday, May 4th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. VF had a net margin of 5.24% and a return on equity of 34.05%. VF’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. analysts expect that VF will post 3.54 earnings per share for the current year.

In related news, VP Scott H. Baxter sold 65,988 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $83.85, for a total transaction of $5,533,093.80. Following the sale, the vice president now directly owns 196,882 shares in the company, valued at $16,508,555.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Guerrini Martino Scabbia sold 20,096 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $84.10, for a total transaction of $1,690,073.60. Following the sale, the vice president now owns 127,485 shares in the company, valued at $10,721,488.50. The disclosure for this sale can be found here. Insiders have sold 220,900 shares of company stock worth $17,948,688 over the last quarter. Insiders own 1.72% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of VF by 3.2% during the first quarter. BlackRock Inc. now owns 22,590,912 shares of the textile maker’s stock worth $1,674,438,000 after buying an additional 699,045 shares during the period. Wells Fargo & Company MN increased its stake in shares of VF by 1.6% during the first quarter. Wells Fargo & Company MN now owns 9,138,244 shares of the textile maker’s stock worth $677,327,000 after buying an additional 143,454 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of VF by 23.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,153,080 shares of the textile maker’s stock worth $159,587,000 after buying an additional 408,132 shares during the period. King Luther Capital Management Corp increased its stake in shares of VF by 18.2% during the first quarter. King Luther Capital Management Corp now owns 1,648,360 shares of the textile maker’s stock worth $122,176,000 after buying an additional 254,150 shares during the period. Finally, AMG National Trust Bank increased its stake in shares of VF by 1.9% during the second quarter. AMG National Trust Bank now owns 1,609,861 shares of the textile maker’s stock worth $131,236,000 after buying an additional 30,553 shares during the period.

VF Company Profile

V.F. Corporation engages in the design, production, 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 four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.

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Analyst Recommendations for VF (NYSE:VFC)

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