Oak Ridge Investments LLC Raises Stake in V.F. Corporation (VFC)

Oak Ridge Investments LLC grew its position in V.F. Corporation (NYSE:VFC) by 7.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,929 shares of the textile maker’s stock after buying an additional 9,980 shares during the quarter. Oak Ridge Investments LLC’s holdings in V.F. Corporation were worth $8,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of V.F. Corporation by 13.9% in the first quarter. Wellington Management Group LLP now owns 33,920,937 shares of the textile maker’s stock valued at $1,864,633,000 after buying an additional 4,129,477 shares in the last quarter. State Street Corp grew its stake in shares of V.F. Corporation by 1.4% in the first quarter. State Street Corp now owns 20,946,013 shares of the textile maker’s stock valued at $1,151,388,000 after buying an additional 295,004 shares in the last quarter. BlackRock Inc. grew its stake in shares of V.F. Corporation by 1,744.1% in the first quarter. BlackRock Inc. now owns 19,467,773 shares of the textile maker’s stock valued at $1,070,143,000 after buying an additional 18,412,097 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt grew its stake in shares of V.F. Corporation by 4.1% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 6,391,000 shares of the textile maker’s stock valued at $351,313,000 after buying an additional 250,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of V.F. Corporation by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 5,808,796 shares of the textile maker’s stock valued at $319,309,000 after buying an additional 1,017,375 shares in the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

In other news, VP Aidan O’meara sold 29,336 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $62.54, for a total transaction of $1,834,673.44. Following the transaction, the vice president now owns 120,680 shares of the company’s stock, valued at $7,547,327.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Alan Mccollough sold 22,852 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $62.94, for a total transaction of $1,438,304.88. Following the transaction, the director now directly owns 36,353 shares in the company, valued at approximately $2,288,057.82. The disclosure for this sale can be found here. Insiders have sold 453,152 shares of company stock worth $28,649,326 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on V.F. Corporation in a research note on Tuesday. They issued a “market perform” rating and a $67.00 price objective for the company. Cowen and Company reaffirmed a “hold” rating on shares of V.F. Corporation in a research note on Thursday, August 17th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $50.00 price objective (up from $47.00) on shares of V.F. Corporation in a research note on Tuesday, August 15th. Buckingham Research lifted their price objective on V.F. Corporation from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, August 15th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $75.00 price objective (up from $70.00) on shares of V.F. Corporation in a research note on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. V.F. Corporation has an average rating of “Hold” and a consensus price target of $60.30.

Shares of V.F. Corporation (NYSE VFC) opened at 63.26 on Tuesday. The firm’s 50-day moving average price is $62.59 and its 200-day moving average price is $56.69. V.F. Corporation has a one year low of $48.05 and a one year high of $64.51. The stock has a market capitalization of $24.90 billion, a P/E ratio of 24.14 and a beta of 0.78.

V.F. Corporation (NYSE:VFC) last posted its quarterly earnings data on Monday, July 24th. The textile maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. V.F. Corporation had a net margin of 9.23% and a return on equity of 27.44%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. Equities research analysts anticipate that V.F. Corporation will post $2.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 8th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.65%. V.F. Corporation’s payout ratio is 64.86%.

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V.F. Corporation Company Profile

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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Institutional Ownership by Quarter for V.F. Corporation (NYSE:VFC)

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