Commonwealth Equity Services LLC Buys 167,061 Shares of V.F. Corporation $VFC

Commonwealth Equity Services LLC grew its stake in shares of V.F. Corporation (NYSE:VFC) by 20.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 989,845 shares of the textile maker’s stock after buying an additional 167,061 shares during the quarter. Commonwealth Equity Services LLC’s holdings in V.F. were worth $13,917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VFC. Covestor Ltd raised its position in shares of V.F. by 707.2% in the 3rd quarter. Covestor Ltd now owns 2,349 shares of the textile maker’s stock worth $33,000 after buying an additional 2,058 shares during the period. Provenance Wealth Advisors LLC acquired a new position in V.F. in the third quarter valued at $51,000. Oregon Public Employees Retirement Fund boosted its holdings in V.F. by 1.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 69,256 shares of the textile maker’s stock valued at $974,000 after acquiring an additional 1,300 shares during the last quarter. Vise Technologies Inc. boosted its holdings in V.F. by 77.9% in the third quarter. Vise Technologies Inc. now owns 24,554 shares of the textile maker’s stock valued at $345,000 after acquiring an additional 10,753 shares during the last quarter. Finally, Americana Partners LLC acquired a new position in V.F. in the third quarter valued at $288,000. 86.84% of the stock is currently owned by institutional investors and hedge funds.

V.F. Price Performance

V.F. stock opened at $20.70 on Thursday. V.F. Corporation has a 52-week low of $12.45 and a 52-week high of $22.27. The firm has a fifty day moving average of $15.76 and a 200-day moving average of $17.00. The firm has a market capitalization of $8.15 billion, a P/E ratio of 22.50, a PEG ratio of 0.87 and a beta of 1.49. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 1.48.

V.F. (NYSE:VFC) last posted its earnings results on Wednesday, October 28th. The textile maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.16. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.66 billion. V.F. had a net margin of 3.93% and a return on equity of 21.78%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, analysts predict that V.F. Corporation will post 1.18 EPS for the current year.

V.F. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 10th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, December 10th. V.F.’s payout ratio is currently 39.13%.

Analyst Upgrades and Downgrades

VFC has been the subject of several research analyst reports. Evercore set a $16.00 price target on V.F. in a research note on Thursday, July 30th. Barclays raised their price objective on V.F. from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Piper Sandler raised V.F. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $20.00 in a research note on Tuesday, October 13th. BNP Paribas Exane raised V.F. from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $13.00 to $16.00 in a research note on Thursday, October 29th. Finally, BTIG Research reiterated a “buy” rating and set a $23.00 target price on shares of V.F. in a report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, V.F. currently has a consensus rating of “Hold” and a consensus target price of $18.89.

V.F. Company Profile

V.F. Corporation, commonly known as VF Corporation, is a global apparel, footwear and accessories company. Its portfolio includes brands such as The North Face, Vans, Timberland and Dickies, which serve outdoor, active, workwear and lifestyle markets. The company sells products through wholesale partners, its own retail stores and e-commerce channels. Its brands offer items including outdoor clothing and equipment, footwear, workwear, backpacks and accessories to customers in the Americas, Europe and Asia-Pacific.