Stewart & Patten Co. LLC lowered its holdings in VF Corp (NYSE:VFC) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,350 shares of the textile maker’s stock after selling 1,137 shares during the period. VF makes up 2.7% of Stewart & Patten Co. LLC’s portfolio, making the stock its 17th biggest position. Stewart & Patten Co. LLC’s holdings in VF were worth $15,781,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Doyle Wealth Management acquired a new position in VF during the 2nd quarter valued at about $32,000. Independence Bank of Kentucky bought a new stake in shares of VF in the 3rd quarter valued at about $34,000. Mechanics Bank Trust Department bought a new stake in shares of VF in the 3rd quarter valued at about $38,000. Prime Capital Investment Advisors LLC increased its stake in VF by 33.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 518 shares of the textile maker’s stock worth $46,000 after purchasing an additional 131 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management bought a new stake in VF during the 3rd quarter worth approximately $49,000.
In other news, CEO Steven E. Rendle sold 155,582 shares of VF stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $91.40, for a total transaction of $14,220,194.80. Following the completion of the sale, the chief executive officer now directly owns 302,013 shares of the company’s stock, valued at approximately $27,603,988.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kevin Bailey sold 21,314 shares of VF stock in a transaction on Friday, November 1st. The stock was sold at an average price of $83.14, for a total transaction of $1,772,045.96. Following the sale, the vice president now directly owns 71,241 shares of the company’s stock, valued at $5,922,976.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,826 shares of company stock valued at $17,535,241. 0.74% of the stock is owned by company insiders.
A number of analysts recently issued reports on the company. Wedbush cut VF from an “outperform” rating to a “neutral” rating and set a $98.00 target price for the company. in a research note on Wednesday, January 8th. They noted that the move was a valuation call. Barclays started coverage on VF in a research report on Tuesday, November 12th. They issued an “overweight” rating and a $103.00 target price on the stock. Guggenheim reiterated a “buy” rating on shares of VF in a research report on Tuesday, December 10th. Credit Suisse Group lifted their target price on VF from $104.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Pivotal Research decreased their target price on VF from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. VF has an average rating of “Buy” and an average price target of $100.77.
Shares of VF stock traded down $0.96 on Friday, reaching $94.17. The company’s stock had a trading volume of 1,224,006 shares, compared to its average volume of 2,242,545. The company has a market capitalization of $37.80 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 2.54 and a beta of 1.19. The firm’s fifty day simple moving average is $94.98 and its two-hundred day simple moving average is $88.36. VF Corp has a 52 week low of $71.58 and a 52 week high of $100.25. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.67.
VF (NYSE:VFC) last released its earnings results on Friday, October 25th. The textile maker reported $1.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.04). The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.42 billion. VF had a net margin of 10.07% and a return on equity of 32.04%. VF’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 earnings per share. As a group, research analysts predict that VF Corp will post 3.36 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.92 dividend on an annualized basis and a yield of 2.04%. This is a positive change from VF’s previous quarterly dividend of $0.43. VF’s dividend payout ratio is currently 50.79%.
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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