V.F. Co. (NYSE:VFC) Shares Acquired by DAVENPORT & Co LLC

Posted by on Jul 18th, 2023

DAVENPORT & Co LLC lifted its position in shares of V.F. Co. (NYSE:VFC – Free Report) by 103.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,264 shares of the textile maker’s stock after acquiring an additional 28,046 shares during the quarter. DAVENPORT & Co LLC’s holdings in V.F. were worth $1,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VFC. Lumature Wealth Partners LLC raised its position in shares of V.F. by 6.0% during the 1st quarter. Lumature Wealth Partners LLC now owns 4,153 shares of the textile maker’s stock worth $236,000 after buying an additional 236 shares in the last quarter. Parallel Advisors LLC raised its position in shares of V.F. by 12.1% during the 4th quarter. Parallel Advisors LLC now owns 3,098 shares of the textile maker’s stock worth $86,000 after buying an additional 334 shares in the last quarter. SJS Investment Consulting Inc. raised its position in shares of V.F. by 50.4% during the 4th quarter. SJS Investment Consulting Inc. now owns 1,006 shares of the textile maker’s stock worth $28,000 after buying an additional 337 shares in the last quarter. Kinneret Advisory LLC raised its position in shares of V.F. by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 15,513 shares of the textile maker’s stock worth $882,000 after buying an additional 347 shares in the last quarter. Finally, Capital Group International Inc. CA raised its position in shares of V.F. by 0.7% during the 1st quarter. Capital Group International Inc. CA now owns 57,335 shares of the textile maker’s stock worth $3,260,000 after buying an additional 375 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

V.F. Stock Performance

Shares of VFC opened at $19.11 on Tuesday. The company’s 50 day moving average price is $19.22 and its 200 day moving average price is $23.12. V.F. Co. has a 52 week low of $16.77 and a 52 week high of $48.63. The company has a market capitalization of $7.43 billion, a PE ratio of 61.65, a PEG ratio of 1.63 and a beta of 1.47. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 1.45.

V.F. (NYSE:VFC – Get Free Report) last announced its quarterly earnings data on Tuesday, May 23rd. The textile maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. V.F. had a net margin of 1.02% and a return on equity of 25.78%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Research analysts expect that V.F. Co. will post 2.11 EPS for the current fiscal year.

V.F. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Monday, June 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend was Friday, June 9th. V.F.’s dividend payout ratio (DPR) is presently 387.11%.

Analysts Set New Price Targets

A number of research firms have commented on VFC. The Goldman Sachs Group upgraded shares of V.F. from a “sell” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $27.00 in a research report on Friday, April 14th. BMO Capital Markets dropped their price target on shares of V.F. from $28.00 to $25.00 in a research report on Wednesday, May 24th. Bank of America lowered their price objective on shares of V.F. from $20.00 to $18.00 in a research note on Wednesday, May 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of V.F. from $33.00 to $26.00 in a research note on Wednesday, May 24th. Finally, Piper Sandler began coverage on shares of V.F. in a research note on Tuesday, April 25th. They issued an “overweight” rating on the stock. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, V.F. presently has an average rating of “Hold” and a consensus target price of $28.42.

V.F. Profile

(Free Report)

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.

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Institutional Ownership by Quarter for V.F. (NYSE:VFC)

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