Ontario Teachers Pension Plan Board increased its position in VF Corp (NYSE:VFC) by 82.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,234 shares of the textile maker’s stock after acquiring an additional 7,809 shares during the period. Ontario Teachers Pension Plan Board’s holdings in VF were worth $932,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VFC. Bank of America Corp DE lifted its position in VF by 78.6% during the fourth quarter. Bank of America Corp DE now owns 12,686,741 shares of the textile maker’s stock valued at $1,264,360,000 after purchasing an additional 5,582,527 shares in the last quarter. Parnassus Investments CA lifted its position in VF by 44.9% during the first quarter. Parnassus Investments CA now owns 11,178,251 shares of the textile maker’s stock valued at $604,520,000 after purchasing an additional 3,462,714 shares in the last quarter. Norges Bank purchased a new position in VF during the fourth quarter valued at $326,543,000. Nuveen Asset Management LLC lifted its position in VF by 182.6% during the fourth quarter. Nuveen Asset Management LLC now owns 3,771,259 shares of the textile maker’s stock valued at $375,844,000 after purchasing an additional 2,436,579 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in VF by 61.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,163,005 shares of the textile maker’s stock valued at $116,975,000 after purchasing an additional 824,480 shares in the last quarter. Institutional investors own 78.77% of the company’s stock.
Several equities analysts recently weighed in on VFC shares. Telsey Advisory Group lowered their target price on VF from $100.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. ValuEngine upgraded VF from a “hold” rating to a “buy” rating in a research report on Monday, March 30th. Raymond James initiated coverage on VF in a research report on Tuesday, March 31st. They issued a “market perform” rating on the stock. Guggenheim lowered their price objective on VF from $105.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Susquehanna Bancshares lowered their price objective on VF from $66.00 to $60.00 in a research report on Monday, May 18th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $69.69.
In related news, Director Veronica Wu acquired 500 shares of VF stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $71.00 per share, with a total value of $35,500.00. Following the completion of the purchase, the director now directly owns 1,495 shares of the company’s stock, valued at approximately $106,145. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.74% of the company’s stock.
NYSE:VFC opened at $55.64 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $22.22 billion, a P/E ratio of 19.48, a P/E/G ratio of 4.30 and a beta of 1.23. VF Corp has a 12 month low of $45.07 and a 12 month high of $100.25. The business’s 50-day moving average is $55.57 and its 200 day moving average is $76.49.
VF (NYSE:VFC) last issued its quarterly earnings data on Friday, May 15th. The textile maker reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.03). VF had a return on equity of 27.75% and a net margin of 6.09%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, research analysts forecast that VF Corp will post 1.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $1.92 annualized dividend and a yield of 3.45%. VF’s payout ratio is currently 71.64%.
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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