V.F. Corporation $VFC Shares Purchased by M&G PLC

M&G PLC grew its position in V.F. Corporation (NYSE:VFC – Free Report) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,956,797 shares of the textile maker’s stock after acquiring an additional 122,275 shares during the period. V.F. comprises approximately 1.8% of M&G PLC’s investment portfolio, making the stock its 8th biggest position. M&G PLC owned approximately 0.07% of V.F. worth $363,395,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. AlphaCore Capital LLC grew its position in shares of V.F. by 224.0% during the 3rd quarter. AlphaCore Capital LLC now owns 36,886 shares of the textile maker’s stock valued at $519,000 after acquiring an additional 25,502 shares during the period. Retirement Systems of Alabama raised its holdings in V.F. by 1.4% in the 3rd quarter. Retirement Systems of Alabama now owns 344,672 shares of the textile maker’s stock worth $4,846,000 after purchasing an additional 4,744 shares during the period. Brighton Jones LLC boosted its position in V.F. by 78.8% during the third quarter. Brighton Jones LLC now owns 77,901 shares of the textile maker’s stock worth $1,095,000 after purchasing an additional 34,322 shares in the last quarter. Allegiance Financial Group Advisory Services LLC purchased a new position in V.F. during the third quarter worth approximately $177,000. Finally, QTR Family Wealth LLC purchased a new position in V.F. during the third quarter worth approximately $195,000. 86.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VFC. Weiss Ratings upgraded V.F. from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Robert W. Baird upped their price target on shares of V.F. from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. BNP Paribas Exane upgraded V.F. from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $13.00 to $16.00 in a report on Thursday, October 29th. Truist Financial raised shares of V.F. from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.00 to $20.00 in a research note on Tuesday, October 13th. Finally, Barclays boosted their price target on shares of V.F. from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, V.F. currently has an average rating of “Hold” and a consensus price target of $18.89.

Get Our Latest Analysis on V.F.

V.F. Trading Up 2.6%

NYSE VFC opened at $20.89 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.47 and a quick ratio of 0.85. The stock has a market capitalization of $8.22 billion, a P/E ratio of 20.72, a PEG ratio of 0.88 and a beta of 1.49. The firm’s 50-day moving average is $15.46 and its two-hundred day moving average is $16.99. V.F. Corporation has a 12 month low of $12.45 and a 12 month high of $22.27.

V.F. (NYSE:VFC – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The textile maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.16. V.F. had a net margin of 3.93% and a return on equity of 21.78%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that V.F. Corporation will post 1.18 earnings per share for the current year.

V.F. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. V.F.’s payout ratio is currently 39.13%.

Insider Buying and Selling

In other news, Director Richard Carucci acquired 20,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $14.73 per share, for a total transaction of $294,600.00. Following the acquisition, the director directly owned 356,215 shares in the company, valued at $5,247,046.95. This trade represents a 5.95% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.54% of the stock is owned by corporate insiders.

V.F. Company Profile

(Free Report)

V.F. Corporation, commonly known as VF Corporation, is a global apparel, footwear and accessories company. Its portfolio includes brands such as The North Face, Vans, Timberland and Dickies, which serve outdoor, active, workwear and lifestyle markets.

The company sells products through wholesale partners, its own retail stores and e-commerce channels. Its brands offer items including outdoor clothing and equipment, footwear, workwear, backpacks and accessories to customers in the Americas, Europe and Asia-Pacific.

Founded in 1899 as the Reading Glove and Mitten Manufacturing Company, the business later became Vanity Fair Mills and adopted the name VF Corporation in 1982.

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

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