5 Biggest Losers This Week

4. V.F. Corporation (NYSE:VFC)

Number of Hedge Fund Holders: 29

Shares of V.F. Corporation (NYSE:VFC) declined more than 15 percent this week after cutting its outlook for the full year. The apparel and footwear company blamed macro uncertainty and higher inventories for the revised guidance.

V.F. Corporation (NYSE:VFC) now expects adjusted earnings in the range of $2.60 – $2.70 per share for its fiscal 2023, well below its previous projection between $3.05 – $3.15 per share. The updated forecast missed the consensus of $3.04 per share.

Meanwhile, several research firm lowered their price targets for V.F. Corporation (NYSE:VFC) following the revised outlook. For instance, Wells Fargo trimmed its price target for VFC stock from $50 to $40, while Wedbush cut its price target from $48 to $35.