Eaton Vance Management lowered its position in shares of VF Corp (NYSE:VFC) by 42.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,314 shares of the textile maker’s stock after selling 262,476 shares during the period. Eaton Vance Management owned 0.09% of VF worth $32,643,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of VFC. Charles Schwab Investment Advisory Inc. acquired a new position in VF in the second quarter valued at $352,007,000. Waddell & Reed Financial Inc. boosted its stake in VF by 1,233.7% in the second quarter. Waddell & Reed Financial Inc. now owns 3,008,805 shares of the textile maker’s stock valued at $245,278,000 after acquiring an additional 2,783,208 shares in the last quarter. BlackRock Inc. boosted its stake in VF by 9.6% in the second quarter. BlackRock Inc. now owns 24,770,077 shares of the textile maker’s stock valued at $2,019,258,000 after acquiring an additional 2,179,165 shares in the last quarter. FMR LLC boosted its stake in VF by 58.2% in the third quarter. FMR LLC now owns 5,482,244 shares of the textile maker’s stock valued at $512,315,000 after acquiring an additional 2,016,128 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in VF by 89.6% in the second quarter. Janus Henderson Group PLC now owns 3,479,346 shares of the textile maker’s stock valued at $283,640,000 after acquiring an additional 1,644,062 shares in the last quarter. Hedge funds and other institutional investors own 83.48% of the company’s stock.
Several equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of VF from $95.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, October 22nd. Wedbush assumed coverage on shares of VF in a research note on Monday, October 15th. They issued a “neutral” rating and a $94.00 price objective for the company. They noted that the move was a valuation call. Cowen upgraded shares of VF from a “market perform” rating to a “buy” rating and upped their price objective for the company from $96.00 to $106.00 in a research note on Friday, September 14th. Credit Suisse Group decreased their price objective on shares of VF from $105.00 to $98.00 and set an “outperform” rating for the company in a research note on Monday, October 22nd. Finally, Guggenheim restated a “buy” rating and issued a $105.00 price objective on shares of VF in a research note on Monday, August 13th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $95.17.
In other news, Director Richard Carucci purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was purchased at an average cost of $78.65 per share, with a total value of $393,250.00. Following the completion of the acquisition, the director now directly owns 48,190 shares of the company’s stock, valued at approximately $3,790,143.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.72% of the company’s stock.
Shares of NYSE:VFC opened at $81.29 on Monday. VF Corp has a one year low of $70.34 and a one year high of $97.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.90. The stock has a market capitalization of $32.26 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01.
VF (NYSE:VFC) last announced its earnings results on Friday, October 19th. The textile maker reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.87 billion. VF had a net margin of 6.20% and a return on equity of 37.08%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 earnings per share. As a group, sell-side analysts predict that VF Corp will post 3.72 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Monday, December 10th will be issued a dividend of $0.51 per share. This is a boost from VF’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, December 7th. VF’s dividend payout ratio is currently 61.74%.
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VF Company Profile
V.F. Corporation engages in the design, production, 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 four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.
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