Charter Trust Co. bought a new stake in VF Corp (NYSE:VFC) during the third quarter, HoldingsChannel.com reports. The fund bought 2,296 shares of the textile maker’s stock, valued at approximately $215,000.
Other hedge funds have also modified their holdings of the company. Fort L.P. purchased a new position in shares of VF in the 2nd quarter valued at $119,000. Centaurus Financial Inc. purchased a new position in shares of VF in the 2nd quarter valued at $119,000. NEXT Financial Group Inc purchased a new position in shares of VF in the 3rd quarter valued at $169,000. Point72 Hong Kong Ltd purchased a new position in shares of VF in the 2nd quarter valued at $152,000. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of VF in the 2nd quarter valued at $165,000. 83.61% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on VFC shares. Canaccord Genuity reissued a “buy” rating and issued a $108.00 target price on shares of VF in a research note on Monday, August 13th. Guggenheim reissued a “buy” rating and issued a $105.00 target price on shares of VF in a research note on Monday, August 13th. Bank of America set a $105.00 target price on shares of VF and gave the company a “buy” rating in a research note on Thursday, September 13th. Cowen raised shares of 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. Finally, 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. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. VF currently has a consensus rating of “Buy” and an average price target of $95.17.
Shares of VFC stock opened at $76.00 on Friday. The firm has a market cap of $31.88 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 1.93 and a beta of 0.98. 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 1-year low of $71.94 and a 1-year high of $97.00.
VF (NYSE:VFC) last announced its quarterly earnings data on Friday, October 19th. The textile maker reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.87 billion. VF had a net margin of 6.20% and a return on equity of 37.08%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. Equities analysts forecast that VF Corp will post 3.72 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Monday, December 10th will be issued a dividend of $0.51 per share. This is a positive change from VF’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, December 7th. VF’s dividend payout ratio (DPR) is currently 61.74%.
In related news, Director Richard Carucci acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was bought at an average cost of $78.65 per share, with a total value of $393,250.00. Following the acquisition, the director now directly owns 48,190 shares in the company, valued at $3,790,143.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.72% of the stock is owned by company insiders.
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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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