Pinnacle Bank reduced its stake in VF Corp (NYSE:VFC) by 51.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,421 shares of the textile maker’s stock after selling 2,614 shares during the period. Pinnacle Bank’s holdings in VF were worth $148,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. PSI Advisors LLC bought a new stake in VF in the fourth quarter valued at about $25,000. Gemmer Asset Management LLC grew its position in shares of VF by 198.9% during the 1st quarter. Gemmer Asset Management LLC now owns 526 shares of the textile maker’s stock worth $28,000 after buying an additional 350 shares during the period. Flagship Harbor Advisors LLC increased its stake in shares of VF by 54.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 662 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 234 shares during the last quarter. John W. Brooker & Co. CPAs increased its stake in shares of VF by 37.3% in the 1st quarter. John W. Brooker & Co. CPAs now owns 754 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 205 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of VF in the 1st quarter valued at approximately $43,000. 76.17% of the stock is owned by institutional investors and hedge funds.
VFC has been the subject of several recent analyst reports. Guggenheim lowered their target price on shares of VF from $105.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Deutsche Bank lowered their price objective on shares of VF from $84.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Wells Fargo & Co lifted their target price on VF from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Credit Suisse Group reissued a “buy” rating and issued a $71.00 target price on shares of VF in a research note on Wednesday, June 10th. Finally, Piper Sandler lowered VF from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $54.00 in a research report on Wednesday, April 22nd. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. VF currently has a consensus rating of “Hold” and an average price target of $65.79.
Shares of NYSE:VFC traded down $2.14 during mid-day trading on Tuesday, reaching $60.85. 939,282 shares of the stock were exchanged, compared to its average volume of 3,214,161. The stock’s 50 day simple moving average is $60.41 and its 200-day simple moving average is $70.44. VF Corp has a one year low of $45.07 and a one year high of $100.25. The company has a market cap of $24.01 billion, a P/E ratio of 36.36, a P/E/G ratio of 4.71 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.08.
VF (NYSE:VFC) last released its quarterly earnings results on Friday, May 15th. The textile maker reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). VF had a return on equity of 27.75% and a net margin of 6.09%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.60 EPS. Analysts anticipate that VF Corp will post 1.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, June 10th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.92 annualized dividend and a yield of 3.16%. VF’s dividend payout ratio (DPR) is presently 71.64%.
In other VF news, Director Benno O. Dorer purchased 1,592 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average cost of $64.09 per share, for a total transaction of $102,031.28. Also, Director Richard Carucci purchased 3,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $60.51 per share, with a total value of $211,785.00. Following the purchase, the director now directly owns 69,774 shares of the company’s stock, valued at approximately $4,222,024.74. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
VF Company Profile
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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