Huntington National Bank Sells 3,357 Shares of VF Corp (VFC)
Huntington National Bank lowered its stake in shares of VF Corp (NYSE:VFC) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,304 shares of the textile maker’s stock after selling 3,357 shares during the quarter. Huntington National Bank’s holdings in VF were worth $13,150,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in VFC. Doyle Wealth Management bought a new stake in VF during the fourth quarter worth approximately $26,000. Reilly Financial Advisors LLC boosted its position in VF by 99.1% during the fourth quarter. Reilly Financial Advisors LLC now owns 440 shares of the textile maker’s stock worth $31,000 after purchasing an additional 219 shares during the period. Destination Wealth Management boosted its position in VF by 365.2% during the fourth quarter. Destination Wealth Management now owns 428 shares of the textile maker’s stock worth $31,000 after purchasing an additional 336 shares during the period. Sonora Investment Management LLC boosted its position in VF by 69.5% during the fourth quarter. Sonora Investment Management LLC now owns 444 shares of the textile maker’s stock worth $32,000 after purchasing an additional 182 shares during the period. Finally, Bruderman Asset Management LLC bought a new stake in VF during the fourth quarter worth approximately $37,000.
VFC opened at $88.69 on Wednesday. VF Corp has a 1-year low of $67.18 and a 1-year high of $97.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 1.07. The company has a market capitalization of $35.28 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.13.
The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were paid a $0.51 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.30%. VF’s payout ratio is 68.46%.
VFC has been the subject of a number of recent analyst reports. Credit Suisse Group reaffirmed a “positive” rating on shares of VF in a research report on Wednesday, January 16th. ValuEngine raised VF from a “hold” rating to a “buy” rating in a research report on Saturday, January 19th. Deutsche Bank cut VF from a “buy” rating to a “hold” rating and decreased their target price for the stock from $104.00 to $76.00 in a research report on Friday, January 11th. Pivotal Research reaffirmed a “hold” rating and set a $78.00 target price (down previously from $85.00) on shares of VF in a research report on Wednesday, January 16th. Finally, Wells Fargo & Co decreased their target price on VF from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, January 2nd. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. VF has an average rating of “Buy” and a consensus price target of $92.14.
In related news, Director W Alan Mccollough sold 12,552 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $83.20, for a total value of $1,044,326.40. Following the completion of the transaction, the director now directly owns 27,742 shares in the company, valued at $2,308,134.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott H. Baxter sold 51,911 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $84.25, for a total value of $4,373,501.75. Following the completion of the transaction, the vice president now owns 201,972 shares of the company’s stock, valued at $17,016,141. The disclosure for this sale can be found here. Insiders sold 229,267 shares of company stock valued at $19,577,926 over the last 90 days. 1.72% of the stock is currently owned by corporate insiders.
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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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