Whittier Trust Co. of Nevada Inc. cut its holdings in V.F. Co. (NYSE:VFC – Get Rating) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,521 shares of the textile maker’s stock after selling 1,654 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in V.F. were worth $263,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in V.F. by 16.3% during the first quarter. Vanguard Group Inc. now owns 40,200,890 shares of the textile maker’s stock worth $2,285,822,000 after acquiring an additional 5,626,337 shares during the period. State Street Corp grew its holdings in V.F. by 21.4% in the third quarter. State Street Corp now owns 24,962,446 shares of the textile maker’s stock valued at $746,627,000 after purchasing an additional 4,404,458 shares during the period. Renaissance Technologies LLC acquired a new stake in V.F. in the first quarter valued at approximately $83,806,000. Select Equity Group L.P. acquired a new stake in V.F. in the first quarter valued at approximately $50,416,000. Finally, Invesco Ltd. grew its holdings in V.F. by 38.8% in the first quarter. Invesco Ltd. now owns 2,706,486 shares of the textile maker’s stock valued at $153,890,000 after purchasing an additional 756,275 shares during the period. 96.89% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
VFC has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on V.F. from $30.00 to $24.00 in a report on Monday, March 20th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $36.00 price target on shares of V.F. in a research note on Wednesday, February 8th. BMO Capital Markets lifted their price target on V.F. from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft lowered their price target on V.F. from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, February 6th. Finally, Barclays lifted their price target on V.F. from $28.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, V.F. presently has an average rating of “Hold” and an average target price of $31.94.
V.F. Price Performance
V.F. (NYSE:VFC – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The textile maker reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.13. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. V.F. had a return on equity of 27.87% and a net margin of 3.54%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 EPS. On average, sell-side analysts anticipate that V.F. Co. will post 2.08 EPS for the current year.
V.F. Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 21st. Stockholders of record on Friday, March 10th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, March 9th. This represents a $1.20 annualized dividend and a dividend yield of 5.62%. V.F.’s dividend payout ratio is currently 112.15%.
Insider Activity
In other news, Director Carol L. Roberts bought 7,109 shares of V.F. stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average cost of $21.07 per share, with a total value of $149,786.63. Following the acquisition, the director now owns 7,109 shares of the company’s stock, valued at $149,786.63. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other V.F. news, Director Juliana L. Chugg bought 15,000 shares of the business’s stock in a transaction dated Monday, February 13th. The stock was acquired at an average cost of $26.69 per share, with a total value of $400,350.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $400,350. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carol L. Roberts bought 7,109 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average cost of $21.07 per share, with a total value of $149,786.63. Following the completion of the purchase, the director now owns 7,109 shares in the company, valued at approximately $149,786.63. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.
V.F. Company Profile
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.
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