Madison Asset Management LLC purchased a new stake in shares of V.F. Corporation (NYSE:VFC – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 234,571 shares of the textile maker’s stock, valued at approximately $3,913,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in V.F. by 27.9% during the 1st quarter. Parallel Advisors LLC now owns 2,694 shares of the textile maker’s stock worth $46,000 after acquiring an additional 588 shares during the period. Root Financial Partners LLC boosted its holdings in V.F. by 282.9% in the 1st quarter. Root Financial Partners LLC now owns 3,052 shares of the textile maker’s stock valued at $52,000 after purchasing an additional 2,255 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of V.F. by 151.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,915 shares of the textile maker’s stock valued at $125,000 after purchasing an additional 4,167 shares in the last quarter. Versant Capital Management Inc grew its position in shares of V.F. by 213.7% during the 2nd quarter. Versant Capital Management Inc now owns 8,078 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 5,503 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in shares of V.F. by 1,635.2% in the fourth quarter. Quent Capital LLC now owns 13,170 shares of the textile maker’s stock worth $238,000 after purchasing an additional 12,411 shares during the period. 86.84% of the stock is owned by hedge funds and other institutional investors.
V.F. Price Performance
Shares of V.F. stock opened at $13.94 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $5.48 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.04 and a beta of 1.57. The business’s 50-day moving average price is $16.22 and its 200-day moving average price is $17.53. V.F. Corporation has a 12 month low of $12.60 and a 12 month high of $22.27.
V.F. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, September 10th. V.F.’s dividend payout ratio is 52.17%.
Insider Transactions at V.F.
In related news, Director Richard Carucci acquired 20,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $14.73 per share, for a total transaction of $294,600.00. Following the acquisition, the director owned 356,215 shares of the company’s stock, valued at $5,247,046.95. This trade represents a 5.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bracken Darrell bought 32,894 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $14.98 per share, with a total value of $492,752.12. Following the completion of the transaction, the insider owned 1,402,109 shares in the company, valued at approximately $21,003,592.82. This trade represents a 2.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 82,894 shares of company stock valued at $1,302,452. 1.54% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on VFC. Evercore set a $16.00 target price on V.F. in a research note on Thursday, July 30th. Weiss Ratings downgraded V.F. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. Truist Financial cut their price objective on V.F. from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Williams Trading set a $19.00 price objective on shares of V.F. in a research report on Sunday, May 17th. Finally, BTIG Research reiterated a “buy” rating on shares of V.F. in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.21.
Check Out Our Latest Stock Report on VFC
About V.F.
VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.
Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.
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