Diamond Hill Capital Management Inc. Sells 147,222 Shares of V.F. Corporation (VFC)
Diamond Hill Capital Management Inc. cut its position in V.F. Corporation (NYSE:VFC) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,436,810 shares of the textile maker’s stock after selling 147,222 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.87% of V.F. Corporation worth $218,478,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VFC. OppenheimerFunds Inc. boosted its stake in V.F. Corporation by 8.2% in the 1st quarter. OppenheimerFunds Inc. now owns 28,301 shares of the textile maker’s stock valued at $1,556,000 after purchasing an additional 2,136 shares during the period. Teachers Advisors LLC boosted its stake in V.F. Corporation by 5.3% in the 1st quarter. Teachers Advisors LLC now owns 448,320 shares of the textile maker’s stock valued at $24,644,000 after purchasing an additional 22,545 shares during the period. Fort Pitt Capital Group LLC boosted its stake in V.F. Corporation by 17.5% in the 1st quarter. Fort Pitt Capital Group LLC now owns 452,743 shares of the textile maker’s stock valued at $24,887,000 after purchasing an additional 67,411 shares during the period. Weatherstone Capital Management bought a new stake in V.F. Corporation in the 1st quarter valued at $203,000. Finally, Stephens Inc. AR boosted its stake in V.F. Corporation by 18.8% in the 1st quarter. Stephens Inc. AR now owns 36,997 shares of the textile maker’s stock valued at $2,034,000 after purchasing an additional 5,866 shares during the period.
In related news, Chairman Eric C. Wiseman sold 110,943 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $63.65, for a total value of $7,061,521.95. Following the sale, the chairman now owns 660,806 shares in the company, valued at $42,060,301.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director W Alan Mccollough sold 22,852 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $62.94, for a total value of $1,438,304.88. Following the completion of the sale, the director now owns 36,353 shares in the company, valued at approximately $2,288,057.82. The disclosure for this sale can be found here. Insiders sold 453,152 shares of company stock worth $28,649,326 in the last quarter. 1.60% of the stock is currently owned by company insiders.
Several analysts recently issued reports on VFC shares. Pivotal Research started coverage on V.F. Corporation in a research note on Thursday, October 5th. They issued a “buy” rating and a $75.00 price target for the company. Stifel Nicolaus restated a “hold” rating and issued a $60.00 price target on shares of V.F. Corporation in a research note on Wednesday, October 4th. Macquarie restated an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of V.F. Corporation in a research note on Tuesday, July 25th. Canaccord Genuity set a $73.00 price target on V.F. Corporation and gave the company a “buy” rating in a research note on Thursday. Finally, UBS AG upgraded V.F. Corporation from a “neutral” rating to a “positive” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $61.65.
V.F. Corporation (NYSE VFC) traded up 1.58% during trading on Friday, hitting $66.38. The stock had a trading volume of 4,613,007 shares. V.F. Corporation has a 52 week low of $48.05 and a 52 week high of $66.97. The stock has a market capitalization of $26.13 billion, a P/E ratio of 25.33 and a beta of 0.77. The company has a 50-day moving average of $63.59 and a 200-day moving average of $58.78.
V.F. Corporation (NYSE:VFC) last issued its quarterly earnings data on Monday, July 24th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, equities analysts expect that V.F. Corporation will post $2.98 earnings per share for the current fiscal year.
About V.F. Corporation
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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