VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its stake in shares of V.F. Corporation (NYSE:VFC – Free Report) by 49.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,900 shares of the textile maker’s stock after selling 73,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in V.F. were worth $1,039,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of VFC. Parcion Private Wealth LLC bought a new position in shares of V.F. in the 3rd quarter worth about $269,000. D.A. Davidson & CO. acquired a new position in V.F. during the 3rd quarter valued at approximately $255,000. VestGen Advisors LLC bought a new position in V.F. during the 3rd quarter worth $153,000. SYM FINANCIAL Corp bought a new stake in V.F. in the third quarter valued at $225,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of V.F. by 22.7% during the third quarter. Oppenheimer & Co. Inc. now owns 18,300 shares of the textile maker’s stock valued at $257,000 after acquiring an additional 3,385 shares during the period. Institutional investors own 86.84% of the company’s stock.
V.F. Stock Down 2.8%
NYSE VFC opened at $20.34 on Friday. V.F. Corporation has a 12 month low of $12.45 and a 12 month high of $22.27. The company has a market capitalization of $8.01 billion, a P/E ratio of 20.72, a PEG ratio of 0.88 and a beta of 1.49. The company’s 50 day simple moving average is $15.18 and its 200 day simple moving average is $16.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.47 and a quick ratio of 0.85.
V.F. (NYSE:VFC – Get Free Report) last issued its earnings results on Wednesday, October 28th. The textile maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.54 by $0.16. V.F. had a return on equity of 21.78% and a net margin of 3.93%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the firm posted $0.52 earnings per share. V.F.’s revenue was down 3.8% compared to the same quarter last year. Equities research analysts expect that V.F. Corporation will post 1.18 earnings per share for the current fiscal year.
V.F. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 10th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. V.F.’s dividend payout ratio (DPR) is 39.13%.
Wall Street Analyst Weigh In
Several research firms have commented on VFC. The Goldman Sachs Group decreased their target price on shares of V.F. from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Stifel Nicolaus lowered their price target on V.F. from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. Telsey Advisory Group reissued a “market perform” rating and set a $18.00 target price on shares of V.F. in a research note on Thursday, October 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of V.F. from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, October 29th. Finally, BNP Paribas Exane upgraded V.F. from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $13.00 to $16.00 in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.89.
Read Our Latest Research Report on VFC
Insider Activity at V.F.
In related news, Director Richard Carucci purchased 20,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $14.73 per share, with a total value of $294,600.00. Following the completion of the purchase, the director owned 356,215 shares of the company’s stock, valued at $5,247,046.95. The trade was a 5.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.54% of the stock is currently owned by corporate insiders.
About V.F.
V.F. Corporation, commonly known as VF Corporation, is a global apparel, footwear and accessories company. Its brand portfolio includes The North Face, Vans, Timberland, Dickies, JanSport, Smartwool, Icebreaker, Kipling, Eastpak and Napapijri. These brands serve outdoor, active, workwear, lifestyle and youth-oriented markets.
VF sells products through wholesale partners, company-operated retail stores, brand websites and other digital channels. Its offerings include jackets, outdoor and performance apparel, footwear, backpacks, luggage and workwear.
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