UBS Asset Management Americas Inc. Cuts Holdings in V.F. Co. (NYSE:VFC)

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. reduced its position in V.F. Co. (NYSE:VFC – Get Rating) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,827,399 shares of the textile maker’s stock after selling 88,486 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.47% of V.F. worth $54,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in VFC. American Century Companies Inc. raised its position in V.F. by 65.3% in the first quarter. American Century Companies Inc. now owns 31,193 shares of the textile maker’s stock valued at $1,773,000 after purchasing an additional 12,328 shares during the period. Panagora Asset Management Inc. raised its position in V.F. by 98.9% in the first quarter. Panagora Asset Management Inc. now owns 28,234 shares of the textile maker’s stock valued at $1,605,000 after purchasing an additional 14,036 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in V.F. by 5.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,190 shares of the textile maker’s stock valued at $2,456,000 after purchasing an additional 2,270 shares during the period. Dimensional Fund Advisors LP raised its position in V.F. by 13.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,567,185 shares of the textile maker’s stock valued at $89,124,000 after purchasing an additional 187,008 shares during the period. Finally, Vontobel Holding Ltd. increased its position in shares of V.F. by 6.0% during the first quarter. Vontobel Holding Ltd. now owns 13,192 shares of the textile maker’s stock worth $771,000 after acquiring an additional 751 shares during the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other V.F. news, Director Juliana L. Chugg purchased 15,000 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were bought at an average price of $26.69 per share, with a total value of $400,350.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at approximately $400,350. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Benno O. Dorer bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were purchased at an average price of $28.50 per share, with a total value of $285,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at $285,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Juliana L. Chugg bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were purchased at an average cost of $26.69 per share, for a total transaction of $400,350.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $400,350. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

VFC has been the topic of a number of analyst reports. Credit Suisse Group lowered V.F. from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $28.00 in a research report on Monday, December 5th. Deutsche Bank Aktiengesellschaft dropped their target price on V.F. from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, February 6th. JPMorgan Chase & Co. dropped their target price on V.F. from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 8th. OTR Global reaffirmed a “negative” rating on shares of V.F. in a research report on Friday, January 20th. Finally, Robert W. Baird dropped their target price on V.F. from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 9th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, V.F. currently has a consensus rating of “Hold” and an average price target of $32.56.

V.F. Stock Performance

Shares of VFC stock opened at $21.78 on Monday. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.39. The business has a 50 day moving average of $27.92 and a two-hundred day moving average of $30.76. V.F. Co. has a 52 week low of $21.57 and a 52 week high of $60.09. The company has a market cap of $8.47 billion, a P/E ratio of 20.36, a PEG ratio of 3.30 and a beta of 1.43.

V.F. (NYSE:VFC – Get Rating) last issued its earnings results on Tuesday, February 7th. The textile maker reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.13. V.F. had a return on equity of 27.87% and a net margin of 3.54%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. V.F.’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, analysts anticipate that V.F. Co. will post 2.08 EPS for the current year.

V.F. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Friday, March 10th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.51%. V.F.’s dividend payout ratio (DPR) is presently 112.15%.

V.F. Profile

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VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, and Work. The Outdoor segment refers to authentic outdoor-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.