Point72 Asset Management L.P. decreased its holdings in shares of VF Corp (NYSE:VFC) by 39.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 132,338 shares of the textile maker’s stock after selling 86,229 shares during the period. Point72 Asset Management L.P.’s holdings in VF were worth $13,189,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of VFC. Franklin Resources Inc. grew its position in VF by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 380,980 shares of the textile maker’s stock worth $37,968,000 after purchasing an additional 9,078 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of VF by 13.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 255,124 shares of the textile maker’s stock valued at $25,427,000 after buying an additional 30,917 shares during the last quarter. Ellington Management Group LLC increased its position in shares of VF by 28.7% in the 4th quarter. Ellington Management Group LLC now owns 34,500 shares of the textile maker’s stock valued at $3,438,000 after acquiring an additional 7,700 shares during the period. Resources Management Corp CT ADV acquired a new position in shares of VF in the 3rd quarter valued at $8,841,000. Finally, Voloridge Investment Management LLC raised its stake in VF by 19.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 45,593 shares of the textile maker’s stock worth $4,057,000 after acquiring an additional 7,525 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.
In other VF news, Director Veronica Wu purchased 500 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $71.00 per share, for a total transaction of $35,500.00. Following the purchase, the director now directly owns 1,495 shares in the company, valued at $106,145. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is owned by insiders.
A number of analysts have commented on VFC shares. BMO Capital Markets assumed coverage on VF in a research report on Monday, February 3rd. They set a “market perform” rating and a $84.00 price target for the company. Bank of America cut VF from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $100.00 to $65.00 in a research note on Friday, March 20th. ValuEngine downgraded VF from a “buy” rating to a “hold” rating in a report on Friday, November 29th. Royal Bank of Canada reaffirmed a “buy” rating and set a $94.00 target price on shares of VF in a report on Wednesday, February 26th. Finally, Telsey Advisory Group dropped their target price on VF from $106.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $94.81.
Shares of VFC stock traded up $3.88 on Thursday, hitting $61.93. The company had a trading volume of 3,227,643 shares, compared to its average volume of 3,402,816. The firm has a market cap of $20.70 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.59 and a beta of 1.21. The company has a 50-day moving average price of $72.23 and a 200-day moving average price of $85.59. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.69. VF Corp has a twelve month low of $45.07 and a twelve month high of $100.25.
VF (NYSE:VFC) last announced its quarterly earnings results on Thursday, January 23rd. The textile maker reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. VF had a return on equity of 30.78% and a net margin of 10.54%. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the company posted $1.31 earnings per share. VF’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts expect that VF Corp will post 3.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, March 9th. VF’s dividend payout ratio (DPR) is presently 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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