Schroder Investment Management Group decreased its stake in shares of VF Corp (NYSE:VFC) by 44.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 535,538 shares of the textile maker’s stock after selling 431,254 shares during the period. Schroder Investment Management Group owned 0.14% of VF worth $34,006,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. lifted its holdings in VF by 16.9% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 398,071 shares of the textile maker’s stock worth $25,305,000 after purchasing an additional 57,581 shares in the last quarter. Haverford Trust Co. lifted its holdings in VF by 25.4% during the 3rd quarter. Haverford Trust Co. now owns 6,413 shares of the textile maker’s stock worth $408,000 after purchasing an additional 1,300 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in VF by 7.6% during the 3rd quarter. Pacer Advisors Inc. now owns 18,716 shares of the textile maker’s stock worth $1,190,000 after purchasing an additional 1,328 shares in the last quarter. Fragasso Group Inc. lifted its holdings in VF by 9.2% during the 3rd quarter. Fragasso Group Inc. now owns 15,064 shares of the textile maker’s stock worth $999,000 after purchasing an additional 1,264 shares in the last quarter. Finally, Motco lifted its holdings in VF by 2.5% during the 3rd quarter. Motco now owns 86,513 shares of the textile maker’s stock worth $5,500,000 after purchasing an additional 2,120 shares in the last quarter. 85.73% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. DA Davidson raised their price target on VF to $72.00 and gave the company a “neutral” rating in a report on Tuesday, October 24th. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $75.00 price target (up previously from $70.00) on shares of VF in a report on Tuesday, August 15th. Cowen reaffirmed a “hold” rating and issued a $63.00 price target on shares of VF in a report on Thursday, September 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $60.00 price target (up previously from $57.00) on shares of VF in a report on Monday, August 14th. Finally, Buckingham Research raised their price target on VF from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.84.
VF (NYSE:VFC) last announced its quarterly earnings data on Monday, October 23rd. The textile maker reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.40 billion. VF had a return on equity of 29.22% and a net margin of 8.24%. VF’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. sell-side analysts anticipate that VF Corp will post 3.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Friday, December 8th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from VF’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, December 7th. VF’s dividend payout ratio (DPR) is currently 70.89%.
In related news, VP Scott H. Baxter sold 89,822 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $71.14, for a total transaction of $6,389,937.08. Following the transaction, the vice president now directly owns 127,844 shares of the company’s stock, valued at approximately $9,094,822.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven E. Rendle sold 65,604 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were 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 in the company, valued at $11,448,923.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,660 shares of company stock worth $18,035,832. 1.60% of the stock is currently owned by insiders.
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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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