FDx Advisors Inc. Sells 671 Shares of VF Corp (VFC)
FDx Advisors Inc. trimmed its stake in VF Corp (NYSE:VFC) by 16.2% during the third quarter, Holdings Channel reports. The fund owned 3,462 shares of the textile maker’s stock after selling 671 shares during the period. FDx Advisors Inc.’s holdings in VF were worth $324,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of VFC. Fort L.P. acquired a new position in shares of VF in the 2nd quarter worth $119,000. Centaurus Financial Inc. purchased a new position in shares of VF during the second quarter valued at $119,000. Point72 Hong Kong Ltd purchased a new position in shares of VF during the second quarter valued at $152,000. Massey Quick Simon & CO. LLC purchased a new position in shares of VF during the second quarter valued at $165,000. Finally, NEXT Financial Group Inc purchased a new position in shares of VF during the third quarter valued at $169,000. Institutional investors and hedge funds own 83.61% of the company’s stock.
A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on VF to $88.00 and set an “outperform” rating on the stock in a report on Tuesday, October 23rd. Canaccord Genuity set a $108.00 price target on VF and gave the company a “buy” rating in a report on Monday, October 22nd. Wedbush upgraded VF from a “neutral” rating to an “outperform” rating and set a $94.00 price target on the stock in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Citigroup lowered their price target on VF from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, October 22nd. Finally, Credit Suisse Group lowered their price target on VF from $105.00 to $98.00 and set an “outperform” rating on the stock in a report on Monday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. VF currently has a consensus rating of “Buy” and an average price target of $95.17.
VFC opened at $79.95 on Friday. The firm has a market cap of $31.88 billion, a P/E ratio of 26.78, a PEG ratio of 1.93 and a beta of 0.98. VF Corp has a 1 year low of $71.57 and a 1 year high of $97.00. The company has a quick ratio of 0.90, a current ratio of 1.54 and a debt-to-equity ratio of 0.51.
VF (NYSE:VFC) last released its quarterly earnings data on Friday, October 19th. The textile maker reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.87 billion. VF had a return on equity of 37.08% and a net margin of 6.20%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. As a group, analysts predict that VF Corp will post 3.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Monday, December 10th will be given a dividend of $0.51 per share. This is a boost from VF’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.04 dividend on an annualized basis and a yield of 2.55%. VF’s dividend payout ratio (DPR) is presently 61.74%.
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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