V.F. Corp. (VFC) Position Reduced by Tufton Capital Management
Tufton Capital Management reduced its position in V.F. Corp. (NYSE:VFC) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,427 shares of the company’s stock after selling 1,695 shares during the period. Tufton Capital Management’s holdings in V.F. Corp. were worth $1,994,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Norris Perne & French LLP MI increased its stake in shares of V.F. Corp. by 9.7% in the second quarter. Norris Perne & French LLP MI now owns 95,131 shares of the company’s stock worth $5,850,000 after buying an additional 8,374 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in shares of V.F. Corp. during the second quarter worth about $1,310,000. Checchi Capital Advisers LLC increased its stake in shares of V.F. Corp. by 16.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the company’s stock worth $226,000 after buying an additional 519 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of V.F. Corp. by 108.3% in the second quarter. Oakworth Capital Inc. now owns 2,674 shares of the company’s stock worth $167,000 after buying an additional 1,390 shares during the last quarter. Finally, Palladium Partners LLC increased its stake in shares of V.F. Corp. by 0.7% in the second quarter. Palladium Partners LLC now owns 27,745 shares of the company’s stock worth $1,706,000 after buying an additional 200 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of V.F. Corp. (NYSE:VFC) traded up 1.03% during trading on Wednesday, hitting $56.72. The stock had a trading volume of 2,824,976 shares. The stock has a 50-day moving average price of $61.34 and a 200 day moving average price of $62.79. V.F. Corp. has a 12 month low of $52.21 and a 12 month high of $73.81. The company has a market cap of $23.52 billion, a P/E ratio of 22.44 and a beta of 0.76.
V.F. Corp. (NYSE:VFC) last released its earnings results on Friday, July 22nd. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.53 billion. V.F. Corp. had a return on equity of 25.27% and a net margin of 8.82%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Equities analysts expect that V.F. Corp. will post $3.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Friday, September 9th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Wednesday, September 7th. V.F. Corp.’s dividend payout ratio is currently 58.73%.
Several research analysts recently weighed in on the stock. Morgan Stanley restated an “underperform” rating and issued a $52.50 price objective on shares of V.F. Corp. in a research report on Wednesday, June 1st. B. Riley restated a “neutral” rating and issued a $63.00 price objective on shares of V.F. Corp. in a research report on Monday, July 25th. Zacks Investment Research cut shares of V.F. Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Canaccord Genuity restated a “buy” rating and issued a $76.00 price objective on shares of V.F. Corp. in a research report on Tuesday, July 26th. Finally, Brean Capital restated a “hold” rating on shares of V.F. Corp. in a research report on Monday, July 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. V.F. Corp. presently has an average rating of “Hold” and an average target price of $68.16.
In other V.F. Corp. news, CEO Eric C. Wiseman sold 264,816 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $64.55, for a total value of $17,093,872.80. Following the transaction, the chief executive officer now owns 756,198 shares of the company’s stock, valued at approximately $48,812,580.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clarence Otis, Jr. sold 25,540 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $62.12, for a total value of $1,586,544.80. Following the completion of the transaction, the director now directly owns 37,510 shares in the company, valued at approximately $2,330,121.20. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
About V.F. Corp.
V.F. Corporation (VF) is engaged in the design, manufacturing, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear, Contemporary Brands and Other. The Company owns a portfolio of brands in the outerwear, footwear, denim, backpack, luggage, accessory, sportswear, occupational and performance apparel categories.
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