Wells Fargo Downgrades V.F.: What Investors Need to Know
Fintel reports that on October 14, 2024, Wells Fargo downgraded their outlook for V.F. (LSE:0R30) from Equal-Weight to Underweight.
Current Price Target Trends
As of September 25, 2024, the average one-year price target for V.F. is 18.31 GBX/share. Forecasts range from a low of 10.24 GBX to a high of 26.62 GBX. This average target indicates a potential decrease of 11.54% from the latest reported closing price of 20.70 GBX/share.
Revenue Projections Show Promise
The projected annual revenue for V.F. stands at 12,738 million, marking an increase of 23.96%. Additionally, the projected annual non-GAAP EPS is 2.65.
Changing Fund Sentiment
Currently, there are 1,024 funds or institutions holding positions in V.F., reflecting a decrease of 62 owners, or 5.71%, over the last quarter. The average portfolio weight dedicated to 0R30 has increased by 12.86%, now sitting at 0.11%. In the past three months, total shares owned by institutions grew by 10.73% to reach 494,693,000 shares.
Pnc Financial Services Group holds 76,117,000 shares, representing 19.56% ownership. This shows a slight decrease from the previous filing, where it reported ownership of 76,515,000 shares, a decline of 0.52%. The firm has reduced its portfolio allocation in 0R30 by 85.68% in the last quarter.
Dodge & Cox, on the other hand, increased its stake in the company. They hold 42,557,000 shares, equivalent to 10.93% ownership, up from 35,430,000 shares previously, marking a 16.75% increase. Their portfolio allocation in 0R30 expanded by 9.36% over the last quarter.
DODGX – Dodge & Cox Stock Fund currently owns 27,402,000 shares, which is 7.04% of V.F. This is an increase from 23,498,000 shares earlier, reflecting a growth of 14.25%. Their portfolio allocation also rose by 3.17% last quarter.
Northern Trust’s ownership decreased, as they hold 21,505,000 shares (5.53% ownership) compared to 23,160,000 shares before, representing a 7.69% drop. Their portfolio allocation in 0R30 fell by 61.23% during the last quarter.
Lastly, IJR – iShares Core S&P Small-Cap ETF owns 21,374,000 shares, which constitutes 5.49% of the company.
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This story originally appeared on Fintel.
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