Short Interest in VF Corporation (NYSE:VFC) Drops By 18.6%

by · The Markets Daily

VF Corporation (NYSE:VFC – Get Free Report) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 34,970,000 shares, a drop of 18.6% from the October 15th total of 42,940,000 shares. Based on an average daily volume of 7,130,000 shares, the days-to-cover ratio is presently 4.9 days. Currently, 9.5% of the shares of the company are short sold.

Analysts Set New Price Targets

VFC has been the topic of a number of research reports. Citigroup raised their price target on VF from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group began coverage on VF in a report on Friday, September 27th. They issued a “hold” rating and a $20.00 price objective on the stock. The Goldman Sachs Group began coverage on VF in a report on Friday, October 11th. They issued a “neutral” rating and a $20.00 price objective on the stock. Telsey Advisory Group lifted their price objective on VF from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Robert W. Baird lifted their price objective on VF from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.19.

Get Our Latest Stock Report on VFC

Insiders Place Their Bets

In related news, Director Richard Carucci purchased 15,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $16.70 per share, with a total value of $250,500.00. Following the completion of the acquisition, the director now directly owns 230,178 shares in the company, valued at $3,843,972.60. This represents a 6.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank & Trust Co purchased a new stake in shares of VF during the 2nd quarter valued at $35,000. Versant Capital Management Inc grew its stake in shares of VF by 6,981.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,620 shares of the textile maker’s stock valued at $35,000 after buying an additional 2,583 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of VF during the 3rd quarter valued at $40,000. EverSource Wealth Advisors LLC grew its stake in shares of VF by 50.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,681 shares of the textile maker’s stock valued at $41,000 after buying an additional 895 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of VF during the 2nd quarter valued at $44,000. 86.84% of the stock is currently owned by institutional investors and hedge funds.

VF Price Performance

Shares of VF stock traded down $0.12 during trading on Friday, hitting $20.16. 7,264,324 shares of the company were exchanged, compared to its average volume of 8,242,734. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 2.86. VF has a fifty-two week low of $11.00 and a fifty-two week high of $23.09. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of -11.73, a P/E/G ratio of 7.78 and a beta of 1.52. The firm has a 50 day moving average price of $19.37 and a 200 day moving average price of $16.30.

VF (NYSE:VFC – Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts expect that VF will post 0.48 earnings per share for the current fiscal year.

VF Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.36 annualized dividend and a yield of 1.79%. VF’s dividend payout ratio (DPR) is presently -20.81%.

VF Company Profile

(Get Free Report)

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.

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