HBK Sorce Advisory LLC acquired a new position in VF Corp (NYSE:VFC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,729 shares of the textile maker’s stock, valued at approximately $255,000.
A number of other hedge funds also recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. lifted its holdings in VF by 99.1% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 647,157 shares of the textile maker’s stock valued at $60,475,000 after acquiring an additional 322,067 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in VF by 4.8% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 45,057 shares of the textile maker’s stock valued at $4,173,000 after acquiring an additional 2,061 shares during the last quarter. XR Securities LLC acquired a new stake in VF in the 3rd quarter valued at about $308,000. BP PLC lifted its holdings in VF by 3.8% in the 3rd quarter. BP PLC now owns 40,500 shares of the textile maker’s stock valued at $3,784,000 after acquiring an additional 1,500 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in VF by 9.6% in the 2nd quarter. BlackRock Inc. now owns 24,770,077 shares of the textile maker’s stock valued at $2,019,258,000 after acquiring an additional 2,179,165 shares during the last quarter. 83.61% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on VFC. Pivotal Research set a $90.00 price target on shares of VF and gave the company a “hold” rating in a report on Monday, October 15th. Buckingham Research cut their price target on shares of VF from $89.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, October 17th. Cowen raised shares of VF from a “market perform” rating to a “buy” rating and upped their price target for the company from $96.00 to $106.00 in a report on Friday, September 14th. Wedbush raised shares of VF from a “neutral” rating to an “outperform” rating and set a $94.00 price target for the company in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $108.00 price target on shares of VF and gave the company a “buy” rating in a report on Monday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. VF presently has an average rating of “Buy” and an average price target of $95.17.
VFC stock opened at $75.15 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. VF Corp has a one year low of $72.08 and a one year high of $97.00. The stock has a market cap of $30.24 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.83 and a beta of 0.98.
VF (NYSE:VFC) last posted its quarterly earnings data on Friday, October 19th. The textile maker reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. VF had a net margin of 6.20% and a return on equity of 37.08%. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts predict that VF Corp will post 3.72 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, December 7th. This is a positive change from VF’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. VF’s dividend payout ratio is currently 68.46%.
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VF Company Profile
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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