Could V.F. Corporation (VFC) Recover After Forming a Wedge Up Pattern?

February 15, 2018 - By Louis Casey

Investors sentiment increased to 1.08 in 2017 Q3. Its up 0.15, from 0.93 in 2017Q2. It improved, as 42 investors sold V.F. Corporation shares while 233 reduced holdings. 85 funds opened positions while 211 raised stakes. 395.35 million shares or 2.44% less from 405.25 million shares in 2017Q2 were reported.
Maryland Capital Mgmt has 6,604 shares. Moreover, Amica Mutual Ins Company has 0.12% invested in V.F. Corporation (NYSE:VFC) for 20,278 shares. Kentucky Retirement Systems Insurance Fund has 8,471 shares for 0.1% of their portfolio. Verity & Verity Ltd Llc holds 110,511 shares. 535,538 were accumulated by Schroder Management. Pittenger And Anderson accumulated 35,765 shares. Congress Asset Mgmt Ma holds 159,431 shares. Fmr Ltd Limited Liability Company accumulated 0.02% or 2.26 million shares. First Republic invested in 0.17% or 362,547 shares. Hennessy Advsrs Inc reported 0.27% in V.F. Corporation (NYSE:VFC). Eaton Vance holds 670,029 shares or 0.11% of its portfolio. Lowe Brockenbrough has 0.29% invested in V.F. Corporation (NYSE:VFC). Private Asset Mngmt Inc owns 380 shares. Northeast Inv Mgmt has invested 0.03% in V.F. Corporation (NYSE:VFC). First National Tru Company has invested 0.33% in V.F. Corporation (NYSE:VFC).

Since August 18, 2017, it had 0 insider purchases, and 6 selling transactions for $33.77 million activity. $1.44M worth of V.F. Corporation (NYSE:VFC) was sold by MCCOLLOUGH W ALAN. Another trade for 29,336 shares valued at $1.83 million was made by O’Meara Aidan on Friday, August 18. Rendle Steven E sold $4.63M worth of stock. Roe Scott A. sold $1.34 million worth of stock or 18,952 shares. $990,549 worth of stock was sold by MEAGHER LAURA C on Thursday, October 26.

The stock of V.F. Corporation (VFC) formed an up wedge with $87.57 target or 4.00 % above today’s $84.20 share price. The 6 months wedge indicates low risk for the $33.27B company. If the $87.57 price target is reached, the company will be worth $1.33B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.61% or $0.51 during the last trading session, reaching $84.2. About 2.02 million shares traded. V.F. Corporation (NYSE:VFC) has declined 13.07% since February 15, 2017 and is downtrending. It has underperformed by 29.77% the S&P500.

Analysts await V.F. Corporation (NYSE:VFC) to report earnings on February, 16. They expect $1.01 earnings per share, up 4.12 % or $0.04 from last year’s $0.97 per share. VFC’s profit will be $399.11 million for 20.84 P/E if the $1.01 EPS becomes a reality. After $1.23 actual earnings per share reported by V.F. Corporation for the previous quarter, Wall Street now forecasts -17.89 % negative EPS growth.

V.F. Corporation (NYSE:VFC) Ratings Coverage

Among 28 analysts covering V.F. Corp (NYSE:VFC), 12 have Buy rating, 1 Sell and 15 Hold. Therefore 43% are positive. V.F. Corp had 101 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Monday, February 5 by PiperJaffray. Telsey Advisory Group maintained the shares of VFC in report on Tuesday, October 25 with “Outperform” rating. The stock has “Underweight” rating by Morgan Stanley on Monday, January 11. Deutsche Bank maintained V.F. Corporation (NYSE:VFC) rating on Wednesday, October 19. Deutsche Bank has “Buy” rating and $63 target. Citigroup maintained the shares of VFC in report on Wednesday, October 25 with “Neutral” rating. Canaccord Genuity initiated V.F. Corporation (NYSE:VFC) rating on Tuesday, August 4. Canaccord Genuity has “Buy” rating and $88 target. On Monday, May 29 the stock rating was maintained by Canaccord Genuity with “Hold”. KeyBanc Capital Markets downgraded V.F. Corporation (NYSE:VFC) on Monday, September 25 to “Sector Weight” rating. The company was maintained on Tuesday, October 24 by Morgan Stanley. The stock of V.F. Corporation (NYSE:VFC) earned “Buy” rating by Robert W. Baird on Friday, September 15.

More notable recent V.F. Corporation (NYSE:VFC) news were published by: Streetinsider.com which released: “Stifel Upgrades VF Corp. (VFC) to Buy” on February 12, 2018, also Seekingalpha.com with their article: “Wrangling A High-Profile Apparel Company: VF Corp.” published on February 13, 2018, Seekingalpha.com published: “VF Corporation: Way Overvalued” on January 28, 2018. More interesting news about V.F. Corporation (NYSE:VFC) were released by: Nasdaq.com and their article: “VF Corp Opens New Distribution Center: Will it Aid Sales?” published on January 19, 2018 as well as Benzinga.com‘s news article titled: “With ‘Favorable’ Macro Climate, Piper Jaffray Turns Bullish On VF Corp” with publication date: February 05, 2018.

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