HighTower Advisors LLC Sells 260,361 Shares of V.F. Co. (NYSE:VFC)

Posted by Defense World Staff on May 28th, 2023

HighTower Advisors LLC reduced its holdings in V.F. Co. (NYSE:VFC – Get Rating) by 85.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 44,804 shares of the textile maker’s stock after selling 260,361 shares during the quarter. HighTower Advisors LLC’s holdings in V.F. were worth $1,239,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VFC. Vanguard Group Inc. increased its stake in shares of V.F. by 16.3% in the first quarter. Vanguard Group Inc. now owns 40,200,890 shares of the textile maker’s stock worth $2,285,822,000 after purchasing an additional 5,626,337 shares in the last quarter. State Street Corp grew its position in shares of V.F. by 21.4% in the 3rd quarter. State Street Corp now owns 24,962,446 shares of the textile maker’s stock worth $746,627,000 after buying an additional 4,404,458 shares during the period. ProShare Advisors LLC grew its position in shares of V.F. by 74.0% in the 4th quarter. ProShare Advisors LLC now owns 5,873,746 shares of the textile maker’s stock worth $162,174,000 after buying an additional 2,497,850 shares during the period. Guinness Asset Management LTD grew its position in shares of V.F. by 67.9% in the 4th quarter. Guinness Asset Management LTD now owns 3,854,595 shares of the textile maker’s stock worth $106,422,000 after buying an additional 1,558,582 shares during the period. Finally, Renaissance Technologies LLC bought a new position in V.F. in the 1st quarter worth about $83,806,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

V.F. Stock Up 3.4 %

Shares of NYSE:VFC opened at $18.05 on Friday. The business has a 50-day moving average price of $21.47 and a 200 day moving average price of $25.93. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 58.23, a PEG ratio of 1.48 and a beta of 1.44. V.F. Co. has a 12-month low of $17.43 and a 12-month high of $51.40.

V.F. (NYSE:VFC – Get Rating) last issued its quarterly earnings data on Tuesday, May 23rd. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.72 billion. V.F. had a return on equity of 25.78% and a net margin of 1.02%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. Sell-side analysts expect that V.F. Co. will post 2.12 EPS for the current year.

V.F. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Monday, June 12th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Friday, June 9th. V.F.’s dividend payout ratio (DPR) is 387.10%.

Insider Activity

In other V.F. news, 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 price of $21.07 per share, with a total value of $149,786.63. Following the transaction, 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 accessible through this link. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

VFC has been the topic of a number of analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $36.00 price target on shares of V.F. in a research note on Wednesday, February 8th. Edward Jones raised shares of V.F. from a “hold” rating to a “buy” rating in a research note on Thursday, April 13th. Williams Trading raised shares of V.F. from a “sell” rating to a “buy” rating in a research note on Monday, March 20th. Robert W. Baird dropped their price objective on shares of V.F. from $24.00 to $22.00 in a research note on Wednesday. Finally, Wedbush dropped their price objective on shares of V.F. from $29.00 to $19.00 in a research note on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, V.F. currently has an average rating of “Hold” and an average target price of $28.42.

About V.F.

(Get Rating)

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.