Verity & Verity LLC boosted its position in VF Corp (NYSE:VFC) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,865 shares of the textile maker’s stock after purchasing an additional 1,404 shares during the period. VF accounts for about 1.9% of Verity & Verity LLC’s portfolio, making the stock its 18th biggest holding. Verity & Verity LLC’s holdings in VF were worth $9,187,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in VF by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 28,051,212 shares of the textile maker’s stock worth $2,450,273,000 after purchasing an additional 329,338 shares in the last quarter. Wells Fargo & Company MN increased its holdings in VF by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 8,566,246 shares of the textile maker’s stock worth $748,262,000 after purchasing an additional 220,695 shares in the last quarter. Bank of America Corp DE increased its holdings in VF by 16.5% in the 2nd quarter. Bank of America Corp DE now owns 7,375,848 shares of the textile maker’s stock worth $644,279,000 after purchasing an additional 1,045,204 shares in the last quarter. FMR LLC increased its holdings in VF by 8.8% in the 1st quarter. FMR LLC now owns 6,712,773 shares of the textile maker’s stock worth $583,406,000 after purchasing an additional 543,434 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in VF by 153.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,804,466 shares of the textile maker’s stock worth $507,020,000 after purchasing an additional 3,516,600 shares in the last quarter.
In other VF news, Director Richard Carucci bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $78.93 per share, for a total transaction of $157,860.00. Following the transaction, the director now directly owns 64,731 shares in the company, valued at $5,109,217.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott A. Roe sold 10,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $88.39, for a total value of $883,900.00. Following the sale, the chief financial officer now owns 98,198 shares in the company, valued at approximately $8,679,721.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,707 shares of company stock worth $6,306,230. 0.74% of the stock is owned by corporate insiders.
Shares of VF stock traded up $2.27 on Friday, hitting $90.89. 1,495,901 shares of the company’s stock traded hands, compared to its average volume of 1,880,983. VF Corp has a one year low of $67.18 and a one year high of $96.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.05 and a quick ratio of 1.19. The company has a fifty day moving average of $85.86 and a two-hundred day moving average of $87.26. The company has a market capitalization of $34.63 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.45 and a beta of 1.19.
VF (NYSE:VFC) last announced its earnings results on Wednesday, July 24th. The textile maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. VF had a return on equity of 34.52% and a net margin of 8.62%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that VF Corp will post 3.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $1.72 annualized dividend and a dividend yield of 1.89%. VF’s payout ratio is 45.50%.
A number of equities research analysts have commented on the company. UBS Group upped their price target on VF from $88.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Susquehanna Bancshares upped their price target on VF from $105.00 to $119.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $106.00 price target (up previously from $104.00) on shares of VF in a research report on Thursday, July 25th. Credit Suisse Group set a $104.00 price target on VF and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, TheStreet lowered VF from a “b+” rating to a “c” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $95.31.
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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