V.F. Co. (NYSE:VFC) Position Reduced by Illinois Municipal Retirement Fund

Posted by Defense World Staff on Apr 25th, 2023

Illinois Municipal Retirement Fund decreased its position in shares of V.F. Co. (NYSE:VFC – Get Rating) by 71.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,490 shares of the textile maker’s stock after selling 76,491 shares during the period. Illinois Municipal Retirement Fund’s holdings in V.F. were worth $842,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its holdings in shares of V.F. by 389.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,043 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 830 shares in the last quarter. M&G Investment Management Ltd. boosted its holdings in V.F. by 33.7% in the fourth quarter. M&G Investment Management Ltd. now owns 2,833,728 shares of the textile maker’s stock worth $79,344,000 after purchasing an additional 714,611 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in V.F. by 138.8% in the third quarter. Tower Research Capital LLC TRC now owns 65,650 shares of the textile maker’s stock worth $1,964,000 after purchasing an additional 38,160 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in V.F. by 16.7% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 22,213 shares of the textile maker’s stock worth $664,000 after purchasing an additional 3,186 shares in the last quarter. Finally, BlackRock Inc. lifted its position in V.F. by 1.3% during the 3rd quarter. BlackRock Inc. now owns 26,308,313 shares of the textile maker’s stock worth $786,882,000 after acquiring an additional 336,122 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carol L. Roberts acquired 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, for a total transaction of $149,786.63. Following the completion of the purchase, the director now owns 7,109 shares of the company’s stock, valued at $149,786.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other V.F. news, Director Juliana L. Chugg bought 15,000 shares of V.F. stock in a transaction dated Monday, February 13th. The stock was bought at an average price of $26.69 per share, with a total value of $400,350.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $400,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carol L. Roberts acquired 7,109 shares of the stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $21.07 per share, with a total value of $149,786.63. Following the purchase, the director now directly owns 7,109 shares of the company’s stock, valued at $149,786.63. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VFC. Stifel Nicolaus raised shares of V.F. from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Friday, February 10th. Williams Trading raised shares of V.F. from a “sell” rating to a “buy” rating in a research report on Monday, March 20th. Barclays boosted their price objective on shares of V.F. from $28.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. JPMorgan Chase & Co. decreased their price target on shares of V.F. from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 8th. Finally, BMO Capital Markets increased their price target on V.F. from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, February 8th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.00.

V.F. Stock Up 0.2 %

Shares of VFC opened at $22.92 on Tuesday. The company’s fifty day moving average is $23.19 and its two-hundred day moving average is $27.22. V.F. Co. has a fifty-two week low of $20.03 and a fifty-two week high of $54.46. 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 firm has a market cap of $8.91 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 3.30 and a beta of 1.43.

V.F. (NYSE:VFC – Get Rating) last posted its earnings results on Tuesday, February 7th. The textile maker reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.13. V.F. had a net margin of 3.54% and a return on equity of 27.87%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period in the previous year, the business posted $1.35 EPS. V.F.’s revenue was down 2.6% on a year-over-year basis. Analysts forecast that V.F. Co. will post 2.07 earnings per share for the current year.

V.F. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 21st. Shareholders of record on Friday, March 10th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.24%. The ex-dividend date was Thursday, March 9th. V.F.’s dividend payout ratio is 112.15%.

About V.F.

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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.