Municipal Employees Retirement System of Michigan maintained its position in V.F. Corporation (NYSE:VFC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,750 shares of the textile maker’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in V.F. Corporation were worth $921,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in shares of V.F. Corporation during the fourth quarter valued at about $4,719,000. Congress Asset Management Co. MA bought a new stake in shares of V.F. Corporation during the fourth quarter valued at about $8,025,000. L & S Advisors Inc bought a new stake in shares of V.F. Corporation during the fourth quarter valued at about $366,000. Cigna Investments Inc. New bought a new stake in shares of V.F. Corporation during the fourth quarter valued at about $653,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of V.F. Corporation by 10.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 106,243 shares of the textile maker’s stock valued at $5,668,000 after buying an additional 9,690 shares during the period. Institutional investors and hedge funds own 91.02% of the company’s stock.
Shares of V.F. Corporation (VFC) traded down 1.11% during mid-day trading on Tuesday, hitting $56.20. 276,964 shares of the company traded hands. V.F. Corporation has a 1-year low of $48.05 and a 1-year high of $65.28. The stock has a market capitalization of $22.51 billion, a PE ratio of 22.91 and a beta of 0.73. The firm’s 50 day moving average price is $54.14 and its 200-day moving average price is $53.62.
V.F. Corporation (NYSE:VFC) last issued its earnings results on Friday, April 28th. The textile maker reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.73 billion. V.F. Corporation had a net margin of 8.67% and a return on equity of 26.78%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. On average, equities research analysts forecast that V.F. Corporation will post $2.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 19th. Investors of record on Friday, June 9th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Wednesday, June 7th. V.F. Corporation’s payout ratio is presently 68.85%.
Several equities research analysts have issued reports on the stock. B. Riley restated a “neutral” rating and set a $53.00 price objective on shares of V.F. Corporation in a research report on Tuesday, April 25th. Stifel Nicolaus restated a “hold” rating and set a $56.00 price objective on shares of V.F. Corporation in a research report on Sunday, April 23rd. Vetr downgraded shares of V.F. Corporation from a “sell” rating to a “strong sell” rating and set a $49.00 price objective for the company. in a research report on Tuesday, April 18th. Canaccord Genuity set a $53.00 price objective on shares of V.F. Corporation and gave the stock a “hold” rating in a research report on Saturday, April 1st. Finally, Cowen and Company raised their price objective on shares of V.F. Corporation from $52.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.44.
About V.F. Corporation
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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