VF Corp (NYSE: VFC), the parent company of trending apparel and footwear brands such as The North Face, Vans, and Timberland, saw its stock price decline significantly this year owingย to sales pressures, macroeconomic conditions, and dividend reduction.ย
Shares of the Denver, Colorado-based company experienced another sharp fall on Wednesday, May 24, after reporting Q4 2023 earnings and revenue that beat analyst estimates, though both metrics declined year-over-year.
Inย addition, the latest stock tumble likewise came just a day after VF Corp was embroiled in controversy for releasing a โcome outโ pride ad, featuring activist Pattie Gonia.ย
Recently, stocks tied to corporations like Walt Disney and Bud Light owner faced substantial selling pressure after extreme backlash against their efforts to encourage liberal or progressive agendas.
VF Corp stock analysis
In the past 30ย days, shares of VF Corp plummeted nearly 20%. During that period, the stock experienced a notable trading range from $18.14 to $23.50.
Atย theย timeย ofย publication, VFC was currentlyย worth $18.35, down 3.27 percent in the past 24 hours.ย
Year to date, the company lost almost 35 percent in stock price value, significantly underperforming the broader S&P 500 market index, which gained 7.6 percent since the start of 2023.ย
Analysts slash price targets on VFC
Afterย theย earnings notice, plentyย of analysts slashed their price objectives on VF Corpโs stock.
Financial specialists at Telsey Advisory Group trimmed the price target from $36 to $27, while maintaining the outperform rating.
Citigroup analysts lowered the price target on VFC from $22 to $20, reiterating the neutral rating for the stock.
Inย theย end, Wells Fargo likewise trimmed the price target on the stock from $22 to $20, though the bankโs analyst Ike Boruchov maintained an equal-weight rating.ย
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