ING Groep NV cut its holdings in V.F. Co. (NYSE:VFC) by 50.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,489 shares of the textile maker’s stock after selling 22,779 shares during the quarter. ING Groep NV’s holdings in V.F. were worth $1,797,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC lifted its position in V.F. by 198.1% in the 1st quarter. Bogart Wealth LLC now owns 319 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 212 shares in the last quarter. Capital Asset Advisory Services LLC bought a new position in V.F. in the 4th quarter valued at approximately $32,000. Berman Capital Advisors LLC lifted its position in V.F. by 110.7% in the 1st quarter. Berman Capital Advisors LLC now owns 415 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 218 shares in the last quarter. Graves Light Private Wealth Management Inc. bought a new position in V.F. in the 4th quarter valued at approximately $34,000. Finally, Charter Oak Capital Management LLC bought a new position in shares of V.F. during the 4th quarter valued at $35,000. 82.73% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on VFC. JPMorgan Chase & Co. increased their price target on V.F. from $104.00 to $106.00 and gave the company an “overweight” rating in a report on Monday, May 24th. Royal Bank of Canada lowered their price target on V.F. from $102.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, May 24th. Pivotal Research increased their price target on V.F. from $94.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on V.F. from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, May 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. V.F. currently has a consensus rating of “Buy” and an average target price of $92.33.
V.F. (NYSE:VFC) last issued its quarterly earnings results on Thursday, May 20th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.02). V.F. had a return on equity of 16.85% and a net margin of 4.41%. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was up 22.8% on a year-over-year basis. Equities analysts anticipate that V.F. Co. will post 3.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 21st. Shareholders of record on Thursday, June 10th will be paid a $0.49 dividend. The ex-dividend date is Wednesday, June 9th. This represents a $1.96 dividend on an annualized basis and a yield of 2.50%. V.F.’s payout ratio is presently 149.62%.
In other V.F. news, Director Clarence Otis, Jr. sold 13,449 shares of the stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $79.56, for a total value of $1,070,002.44. Corporate insiders own 0.80% of the company’s stock.
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, Active, and Work. The company offers outdoor, merino wool and other natural fibers-based, lifestyle, and casual apparel; equipment; accessories; outdoor lifestyle, performance-based, youth culture/action sports-inspired, and protective work footwear; handbags, luggage, backpacks, totes, and travel accessories; and work and work-inspired lifestyle apparel and footwear.
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