V.F. Corp. (VFC) Shares Bought by Norris Perne & French LLP MI
Norris Perne & French LLP MI raised its stake in V.F. Corp. (NYSE:VFC) by 9.7% during the second quarter, Holdings Channel reports. The fund owned 95,131 shares of the company’s stock after buying an additional 8,374 shares during the period. Norris Perne & French LLP MI’s holdings in V.F. Corp. were worth $5,850,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Oakbrook Investments LLC acquired a new position in shares of V.F. Corp. during the second quarter valued at approximately $1,310,000. Checchi Capital Advisers LLC boosted its stake in V.F. Corp. by 16.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the company’s stock valued at $226,000 after buying an additional 519 shares during the period. Oakworth Capital Inc. boosted its stake in V.F. Corp. by 108.3% in the second quarter. Oakworth Capital Inc. now owns 2,674 shares of the company’s stock valued at $167,000 after buying an additional 1,390 shares during the period. Palladium Partners LLC boosted its stake in V.F. Corp. by 0.7% in the second quarter. Palladium Partners LLC now owns 27,745 shares of the company’s stock valued at $1,706,000 after buying an additional 200 shares during the period. Finally, Dearborn Partners LLC boosted its stake in V.F. Corp. by 5.0% in the second quarter. Dearborn Partners LLC now owns 297,764 shares of the company’s stock valued at $18,309,000 after buying an additional 14,219 shares during the period. 84.48% of the stock is owned by hedge funds and other institutional investors.
Shares of V.F. Corp. (NYSE:VFC) traded up 0.75% on Monday, reaching $56.58. The company’s stock had a trading volume of 2,882,065 shares. V.F. Corp. has a 52-week low of $52.21 and a 52-week high of $73.81. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 22.38 and a beta of 0.76. The stock has a 50-day moving average of $61.61 and a 200 day moving average of $62.90.
V.F. Corp. (NYSE:VFC) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. V.F. Corp. had a return on equity of 25.27% and a net margin of 8.82%. The firm earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that V.F. Corp. will post $3.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Friday, September 9th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Wednesday, September 7th. V.F. Corp.’s dividend payout ratio is currently 58.73%.
VFC has been the topic of several research reports. Piper Jaffray Cos. restated a “buy” rating and set a $67.00 price target on shares of V.F. Corp. in a report on Friday, July 22nd. Wells Fargo & Co. restated a “market perform” rating and set a $58.00 price target (up from $57.00) on shares of V.F. Corp. in a report on Monday, September 12th. They noted that the move was a valuation call. Brean Capital restated a “hold” rating on shares of V.F. Corp. in a report on Monday, July 25th. Morgan Stanley restated an “underperform” rating and set a $52.50 price target on shares of V.F. Corp. in a report on Wednesday, June 1st. Finally, DA Davidson cut V.F. Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $64.00 in a report on Tuesday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $68.16.
In other news, Director Clarence Otis, Jr. sold 25,540 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was 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 owns 37,510 shares in the company, valued at $2,330,121.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric C. Wiseman sold 264,816 shares of the business’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 completion of the transaction, the chief executive officer now owns 756,198 shares of the company’s stock, valued at approximately $48,812,580.90. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
V.F. Corp. Company Profile
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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