Oak Ridge Investments LLC lowered its position in shares of VF Corp (NYSE:VFC) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,251 shares of the textile maker’s stock after selling 14,178 shares during the period. Oak Ridge Investments LLC’s holdings in VF were worth $11,507,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in VFC. Moneta Group Investment Advisors LLC increased its stake in shares of VF by 179.8% during the first quarter. Moneta Group Investment Advisors LLC now owns 1,480 shares of the textile maker’s stock worth $110,000 after purchasing an additional 951 shares during the period. Focused Wealth Management Inc increased its stake in shares of VF by 437.5% during the first quarter. Focused Wealth Management Inc now owns 2,150 shares of the textile maker’s stock worth $159,000 after purchasing an additional 1,750 shares during the period. Silvant Capital Management LLC bought a new position in VF during the 1st quarter worth $192,000. Weik Capital Management bought a new position in VF during the 1st quarter worth $200,000. Finally, Alps Advisors Inc. bought a new position in VF during the 4th quarter worth $205,000. Institutional investors own 82.69% of the company’s stock.
Shares of VFC stock opened at $84.13 on Thursday. The firm has a market capitalization of $33.03 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. VF Corp has a fifty-two week low of $53.27 and a fifty-two week high of $84.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.49.
VF (NYSE:VFC) last issued its earnings results on Friday, May 4th. The textile maker reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.91 billion. VF had a return on equity of 34.05% and a net margin of 5.24%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. analysts forecast that VF Corp will post 3.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 18th. Shareholders of record on Friday, June 8th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, June 7th. VF’s dividend payout ratio is presently 61.74%.
In related news, Chairman Steven E. Rendle sold 74,180 shares of the firm’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $80.12, for a total transaction of $5,943,301.60. Following the sale, the chairman now owns 257,070 shares of the company’s stock, valued at approximately $20,596,448.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kevin Bailey sold 15,000 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $77.42, for a total value of $1,161,300.00. Following the sale, the vice president now directly owns 54,571 shares in the company, valued at approximately $4,224,886.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,816 shares of company stock worth $10,725,520. Company insiders own 1.72% of the company’s stock.
A number of research firms have commented on VFC. Buckingham Research raised their price objective on VF to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 8th. Canaccord Genuity set a $90.00 price objective on VF and gave the stock a “buy” rating in a research note on Wednesday, March 14th. Pivotal Research restated a “hold” rating and set a $82.00 price objective on shares of VF in a research note on Monday, May 7th. TheStreet upgraded VF from a “c+” rating to a “b+” rating in a research note on Friday, May 4th. Finally, Argus began coverage on VF in a research note on Monday, May 21st. They set a “buy” rating and a $101.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. VF currently has a consensus rating of “Hold” and an average target price of $79.95.
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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