Westpac Banking Corp Sells 46,195 Shares of V.F. Co. (NYSE:VFC)

Westpac Banking Corp lowered its stake in shares of V.F. Co. (NYSE:VFC) by 58.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,837 shares of the textile maker’s stock after selling 46,195 shares during the quarter. Westpac Banking Corp’s holdings in V.F. were worth $2,694,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in V.F. by 91.5% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 314 shares of the textile maker’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Berman Capital Advisors LLC lifted its position in shares of V.F. by 110.7% during the 1st quarter. Berman Capital Advisors LLC now owns 415 shares of the textile maker’s stock valued at $33,000 after buying an additional 218 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in V.F. by 66.9% during the 1st quarter. CSat Investment Advisory L.P. now owns 409 shares of the textile maker’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Freedman Financial Associates Inc. bought a new position in V.F. in the 1st quarter worth about $34,000. Finally, Stonebridge Capital Advisors LLC bought a new position in V.F. in the 1st quarter worth about $36,000. Institutional investors and hedge funds own 82.24% of the company’s stock.

Shares of V.F. stock opened at $66.05 on Thursday. The firm has a market capitalization of $25.92 billion, a PE ratio of 25.50, a P/E/G ratio of 0.88 and a beta of 1.41. V.F. Co. has a twelve month low of $65.34 and a twelve month high of $90.79. The firm’s 50-day moving average price is $76.78 and its 200 day moving average price is $80.40. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 1.44.

V.F. (NYSE:VFC) last announced its quarterly earnings results on Thursday, July 29th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.16. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.17 billion. V.F. had a net margin of 9.83% and a return on equity of 26.99%. The business’s revenue was up 104.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.57) EPS. On average, sell-side analysts predict that V.F. Co. will post 3.27 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 20th. Investors of record on Friday, September 10th were issued a $0.49 dividend. The ex-dividend date was Thursday, September 9th. This represents a $1.96 annualized dividend and a yield of 2.97%. V.F.’s dividend payout ratio (DPR) is presently 149.62%.

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on V.F. from $106.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. TheStreet upgraded V.F. from a “c” rating to a “b-” rating in a report on Friday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on V.F. from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Monday, August 2nd. Bank of America initiated coverage on V.F. in a research note on Tuesday, August 17th. They issued an “underperform” rating for the company. Finally, Barclays raised their price objective on V.F. from $92.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, V.F. currently has a consensus rating of “Buy” and a consensus price target of $91.60.

About V.F.

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.

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

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