Eliot Finkel Investment Counsel LLC lessened its stake in VF Corp (NYSE:VFC) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,610 shares of the textile maker’s stock after selling 6,010 shares during the quarter. VF makes up 3.3% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 16th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in VF were worth $5,103,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. King Luther Capital Management Corp lifted its holdings in VF by 8.2% during the 3rd quarter. King Luther Capital Management Corp now owns 2,069,188 shares of the textile maker’s stock valued at $193,366,000 after purchasing an additional 157,637 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in VF by 42.5% during the 3rd quarter. Wedbush Securities Inc. now owns 4,461 shares of the textile maker’s stock valued at $417,000 after purchasing an additional 1,330 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in VF during the 3rd quarter valued at $277,000. Lee Capital Holdings LLC acquired a new stake in VF during the 3rd quarter valued at $607,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in VF by 5.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 149,796 shares of the textile maker’s stock valued at $13,998,000 after purchasing an additional 7,881 shares during the last quarter. 83.61% of the stock is owned by institutional investors.
VFC opened at $80.34 on Thursday. VF Corp has a fifty-two week low of $70.34 and a fifty-two week high of $97.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.90. The firm has a market cap of $31.88 billion, a PE ratio of 26.96, a PEG ratio of 1.93 and a beta of 0.98.
VF (NYSE:VFC) last posted its earnings results on Friday, October 19th. The textile maker reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. VF had a return on equity of 37.08% and a net margin of 6.20%. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts predict that VF Corp will post 3.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Monday, December 10th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from VF’s previous quarterly dividend of $0.46. VF’s dividend payout ratio (DPR) is currently 61.74%.
In other news, Director Richard Carucci bought 5,000 shares of the company’s stock in a transaction dated Wednesday, October 24th. The stock was bought at an average price of $78.65 per share, with a total value of $393,250.00. Following the completion of the acquisition, the director now owns 48,190 shares of the company’s stock, valued at $3,790,143.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.72% of the stock is currently owned by company insiders.
Several brokerages have issued reports on VFC. Guggenheim reaffirmed a “buy” rating and set a $105.00 price target on shares of VF in a report on Monday, August 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $108.00 price target on shares of VF in a report on Monday, August 13th. Pivotal Research set a $90.00 price target on VF and gave the company a “hold” rating in a report on Monday, October 15th. Buckingham Research cut their price target on VF from $89.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, October 17th. Finally, Cowen raised VF from a “market perform” rating to a “buy” rating and raised their price target for the company from $96.00 to $106.00 in a report on Friday, September 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $95.17.
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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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