Handelsbanken Fonder AB Sells 2,436 Shares of V.F. Co. (NYSE:VFC)

Posted by Defense World Staff on May 5th, 2023

Handelsbanken Fonder AB trimmed its holdings in V.F. Co. (NYSE:VFC – Get Rating) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,023 shares of the textile maker’s stock after selling 2,436 shares during the period. Handelsbanken Fonder AB’s holdings in V.F. were worth $1,492,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in V.F. by 65.3% during the first quarter. American Century Companies Inc. now owns 31,193 shares of the textile maker’s stock valued at $1,773,000 after buying an additional 12,328 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of V.F. by 98.9% in the 1st quarter. Panagora Asset Management Inc. now owns 28,234 shares of the textile maker’s stock valued at $1,605,000 after acquiring an additional 14,036 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in V.F. by 5.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,190 shares of the textile maker’s stock worth $2,456,000 after purchasing an additional 2,270 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in V.F. by 13.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,567,185 shares of the textile maker’s stock worth $89,124,000 after purchasing an additional 187,008 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in V.F. by 6.0% during the first quarter. Vontobel Holding Ltd. now owns 13,192 shares of the textile maker’s stock valued at $771,000 after purchasing an additional 751 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

Insider Transactions at V.F.

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

V.F. Stock Down 4.4 %

Shares of VFC opened at $20.98 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.58 and a current ratio of 1.15. V.F. Co. has a 52 week low of $20.03 and a 52 week high of $51.56. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 3.17 and a beta of 1.44. The business’s fifty day moving average price is $22.45 and its two-hundred day moving average price is $26.82.

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

V.F. Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 21st. Shareholders of record on Friday, March 10th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Thursday, March 9th. V.F.’s dividend payout ratio (DPR) is currently 112.15%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VFC shares. Robert W. Baird reduced their price objective on shares of V.F. from $30.00 to $24.00 in a research note on Monday, March 20th. Piper Sandler initiated coverage on V.F. in a research report on Tuesday, April 25th. They issued an “overweight” rating on the stock. The Goldman Sachs Group upgraded V.F. from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $27.00 in a research note on Friday, April 14th. Edward Jones upgraded V.F. from a “hold” rating to a “buy” rating in a research note on Thursday, April 13th. Finally, Williams Trading raised V.F. from a “sell” rating to a “buy” rating in a research report on Monday, March 20th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.72.

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.