Pitcairn Co. increased its stake in VF Corp (NYSE:VFC) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,124 shares of the textile maker’s stock after acquiring an additional 198 shares during the period. Pitcairn Co.’s holdings in VF were worth $251,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC raised its stake in shares of VF by 84.8% in the second quarter. Global Retirement Partners LLC now owns 412 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 189 shares in the last quarter. Gemmer Asset Management LLC raised its stake in shares of VF by 198.9% in the first quarter. Gemmer Asset Management LLC now owns 526 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 350 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of VF by 54.7% in the first quarter. Flagship Harbor Advisors LLC now owns 662 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 234 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in VF in the first quarter valued at $43,000. Finally, Royal Fund Management LLC acquired a new stake in VF in the first quarter valued at $45,000. Institutional investors and hedge funds own 87.23% of the company’s stock.
Shares of VFC stock opened at $60.36 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.23 and a current ratio of 1.66. VF Corp has a 1 year low of $45.07 and a 1 year high of $100.25. The stock’s 50-day moving average is $60.77 and its two-hundred day moving average is $65.68. The firm has a market cap of $23.57 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 4.64 and a beta of 1.22.
VF (NYSE:VFC) last released its quarterly earnings results on Friday, July 31st. The textile maker reported ($0.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.11. VF had a return on equity of 27.75% and a net margin of 6.09%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $975.49 million. During the same quarter last year, the company posted $0.30 earnings per share. The business’s revenue was down 47.5% on a year-over-year basis. As a group, research analysts predict that VF Corp will post 1.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Thursday, September 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.18%. VF’s dividend payout ratio is currently 71.64%.
In related news, Director Richard Carucci purchased 3,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $60.51 per share, with a total value of $211,785.00. Following the completion of the acquisition, the director now directly owns 69,774 shares in the company, valued at approximately $4,222,024.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Laura C. Meagher sold 10,055 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $69.32, for a total value of $697,012.60. Following the transaction, the executive vice president now directly owns 23,474 shares in the company, valued at approximately $1,627,217.68. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
VFC has been the topic of a number of analyst reports. Credit Suisse Group restated a “buy” rating and issued a $71.00 price target on shares of VF in a research note on Wednesday, June 10th. Telsey Advisory Group cut their price target on VF from $100.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. UBS Group cut their price target on VF from $93.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Piper Sandler cut VF from an “overweight” rating to a “neutral” rating and cut their price target for the company from $95.00 to $54.00 in a research note on Wednesday, April 22nd. Finally, Susquehanna Bancshares raised their price target on VF from $60.00 to $70.00 in a research note on Friday, July 10th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $66.86.
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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