VF Corp (VFC) Holdings Trimmed by Woodley Farra Manion Portfolio Management Inc.
Woodley Farra Manion Portfolio Management Inc. lessened its holdings in shares of VF Corp (NYSE:VFC) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 460,634 shares of the textile maker’s stock after selling 12,620 shares during the quarter. VF makes up approximately 4.4% of Woodley Farra Manion Portfolio Management Inc.’s investment portfolio, making the stock its 3rd largest position. Woodley Farra Manion Portfolio Management Inc. owned approximately 0.12% of VF worth $43,046,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fort L.P. acquired a new position in VF during the second quarter worth approximately $119,000. Centaurus Financial Inc. acquired a new position in VF during the second quarter worth approximately $119,000. Point72 Hong Kong Ltd acquired a new position in VF during the second quarter worth approximately $152,000. Massey Quick Simon & CO. LLC acquired a new position in VF during the second quarter worth approximately $165,000. Finally, NEXT Financial Group Inc acquired a new position in VF during the third quarter worth approximately $169,000. 83.61% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on VFC. Royal Bank of Canada decreased their target price on VF to $88.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 23rd. Canaccord Genuity set a $108.00 target price on VF and gave the company a “buy” rating in a research report on Monday, October 22nd. Wedbush raised VF from a “neutral” rating to an “outperform” rating and set a $94.00 target price on the stock in a research report on Tuesday, October 23rd. They noted that the move was a valuation call. Citigroup decreased their target price on VF from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, October 22nd. Finally, Credit Suisse Group decreased their target price on VF from $105.00 to $98.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $95.17.
NYSE:VFC traded down $2.69 during trading hours on Wednesday, reaching $80.34. 2,351,264 shares of the company were exchanged, compared to its average volume of 2,009,856. The company has a market capitalization of $32.26 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.00 and a beta of 0.98. VF Corp has a 1-year low of $70.34 and a 1-year high of $97.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.90.
VF (NYSE:VFC) last issued its quarterly earnings results on Friday, October 19th. The textile maker reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. VF had a return on equity of 37.08% and a net margin of 6.20%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, sell-side analysts anticipate that VF Corp will post 3.72 EPS for the current fiscal year.
The business also recently declared 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. 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 2.54%. This is an increase from VF’s previous quarterly dividend of $0.46. VF’s dividend payout ratio is currently 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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