WASHINGTON TRUST Co bought a new stake in V.F. Corporation (NYSE:VFC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,300 shares of the textile maker’s stock, valued at approximately $210,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. lifted its stake in V.F. Corporation by 9.2% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock valued at $103,000 after acquiring an additional 150 shares in the last quarter. Zions Bancorporation lifted its stake in V.F. Corporation by 1.5% in the 1st quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock valued at $140,000 after acquiring an additional 38 shares in the last quarter. Ronald Blue & Co. LLC bought a new stake in V.F. Corporation in the 2nd quarter valued at approximately $203,000. RNC Capital Management LLC lifted its stake in V.F. Corporation by 1.5% in the 2nd quarter. RNC Capital Management LLC now owns 4,135 shares of the textile maker’s stock valued at $238,000 after acquiring an additional 60 shares in the last quarter. Finally, Keel Point LLC lifted its stake in V.F. Corporation by 3.4% in the 2nd quarter. Keel Point LLC now owns 4,531 shares of the textile maker’s stock valued at $261,000 after acquiring an additional 148 shares in the last quarter.
V.F. Corporation (VFC) opened at $69.79 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.47 and a debt-to-equity ratio of 0.54. V.F. Corporation has a 1-year low of $48.05 and a 1-year high of $71.95. The company has a market capitalization of $27,451.01, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.35 and a beta of 0.79.
V.F. Corporation (NYSE:VFC) last issued its quarterly earnings data on Monday, October 23rd. The textile maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. V.F. Corporation had a return on equity of 29.22% and a net margin of 8.24%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. equities research analysts predict that V.F. Corporation will post 3.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Friday, December 8th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.64%. This is a positive change from V.F. Corporation’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, December 7th. V.F. Corporation’s dividend payout ratio is currently 70.89%.
In other V.F. Corporation news, CEO Steven E. Rendle sold 65,604 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $70.57, for a total value of $4,629,674.28. Following the transaction, the chief executive officer now directly owns 162,235 shares of the company’s stock, valued at approximately $11,448,923.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Laura C. Meagher sold 14,036 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $70.57, for a total value of $990,520.52. Following the completion of the transaction, the insider now directly owns 48,178 shares in the company, valued at $3,399,921.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 551,744 shares of company stock worth $35,605,258. Insiders own 1.60% of the company’s stock.
Several research analysts have weighed in on the company. TheStreet raised V.F. Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, July 13th. Canaccord Genuity raised V.F. Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $73.00 in a research report on Monday, August 14th. UBS AG boosted their price target on V.F. Corporation from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Pivotal Research assumed coverage on V.F. Corporation in a research report on Thursday, October 5th. They set a “buy” rating and a $75.00 price target on the stock. Finally, Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $75.00 price target on shares of V.F. Corporation in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $65.45.
About V.F. Corporation
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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