Varenne Capital Partners acquired a new position in shares of V.F. Corporation (NYSE:VFC – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 820,157 shares of the textile maker’s stock, valued at approximately $13,671,000. V.F. comprises 2.3% of Varenne Capital Partners’ portfolio, making the stock its 16th largest holding.
A number of other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in shares of 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 purchasing an additional 588 shares in the last quarter. Root Financial Partners LLC increased its position in shares of V.F. by 282.9% in the first quarter. Root Financial Partners LLC now owns 3,052 shares of the textile maker’s stock worth $52,000 after purchasing an additional 2,255 shares during the period. EverSource Wealth Advisors LLC raised its stake in V.F. by 151.6% in the fourth 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 lifted its position in V.F. by 213.7% during the second quarter. Versant Capital Management Inc now owns 8,078 shares of the textile maker’s stock worth $135,000 after purchasing an additional 5,503 shares during the period. Finally, Nykredit A S bought a new stake in V.F. during the second quarter worth about $179,000. 86.84% of the stock is currently owned by institutional investors.
V.F. Trading Up 0.1%
VFC opened at $13.46 on Monday. The company has a market cap of $5.29 billion, a P/E ratio of 19.51, a PEG ratio of 0.97 and a beta of 1.57. 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 company’s 50 day moving average is $15.41 and its 200-day moving average is $16.99. V.F. Corporation has a 1-year low of $12.94 and a 1-year high of $22.27.
V.F. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.36 annualized dividend and a dividend yield of 2.7%. V.F.’s dividend payout ratio is 52.17%.
Insiders Place Their Bets
In other news, insider Bracken Darrell acquired 32,894 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $14.98 per share, with a total value of $492,752.12. Following the acquisition, the insider directly owned 1,402,109 shares in the company, valued at $21,003,592.82. The trade was a 2.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard Carucci acquired 30,000 shares of V.F. stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $17.17 per share, for a total transaction of $515,100.00. Following the transaction, the director directly owned 336,043 shares in the company, valued at $5,769,858.31. The trade was a 9.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 82,894 shares of company stock valued at $1,302,452 over the last quarter. 1.54% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have commented on VFC. Telsey Advisory Group decreased their target price on shares of V.F. from $20.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of V.F. in a report on Tuesday, September 1st. The Goldman Sachs Group reduced their price target on shares of V.F. from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Wells Fargo & Company decreased their price objective on shares of V.F. from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Finally, Zacks Research downgraded shares of V.F. from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, V.F. currently has an average rating of “Hold” and an average target price of $18.21.
View Our Latest Stock Analysis 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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