Quantitative Investment Management LLC Grows Position in V.F. Corporation $VFC

Quantitative Investment Management LLC raised its position in shares of V.F. Corporation (NYSE:VFC) by 395.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,209 shares of the textile maker’s stock after acquiring an additional 56,827 shares during the period. Quantitative Investment Management LLC’s holdings in V.F. were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Securities LLC purchased a new position in shares of V.F. in the second quarter valued at $264,000. Wedbush Securities Inc. bought a new position in V.F. during the second quarter valued at $266,000. Hsbc Holdings PLC lifted its position in V.F. by 7.7% during the second quarter. Hsbc Holdings PLC now owns 29,518 shares of the textile maker’s stock valued at $492,000 after purchasing an additional 2,121 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of V.F. in the 2nd quarter worth $1,670,000. Finally, Madison Asset Management LLC bought a new stake in shares of V.F. in the 2nd quarter worth about $3,913,000. 86.84% of the stock is currently owned by institutional investors.

V.F. Stock Down 2.0%

Shares of VFC opened at $13.39 on Tuesday. The firm has a fifty day moving average price of $15.72 and a 200-day moving average price of $17.20. The company has a current ratio of 1.43, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $5.26 billion, a P/E ratio of 19.41, a P/E/G ratio of 0.98 and a beta of 1.57. V.F. Corporation has a 12-month low of $13.02 and a 12-month high of $22.27.

V.F. (NYSE:VFC) last announced its quarterly earnings data on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. V.F. had a net margin of 2.88% and a return on equity of 18.91%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) EPS. Equities research analysts expect that V.F. Corporation will post 1.07 earnings per share for the current year.

V.F. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, September 10th. V.F.’s payout ratio is currently 52.17%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Needham & Company LLC dropped their price target on V.F. from $25.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. The Goldman Sachs Group lowered their price objective on V.F. from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Evercore set a $16.00 target price on V.F. in a research report on Thursday, July 30th. Weiss Ratings lowered V.F. from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 4th. Finally, Stifel Nicolaus lowered their target price on shares of V.F. from $19.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.21.

Insider Buying and Selling

In other news, insider Bracken Darrell acquired 32,894 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $14.98 per share, with a total value of $492,752.12. Following the completion of the purchase, the insider directly owned 1,402,109 shares in the company, valued at $21,003,592.82. This trade represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Carucci acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $14.73 per share, for a total transaction of $294,600.00. Following the purchase, the director owned 356,215 shares of the company’s stock, valued at $5,247,046.95. This represents a 5.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 82,894 shares of company stock valued at $1,302,452 in the last quarter. 1.54% of the stock is owned by company insiders.

V.F. Profile

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.